Talk of The Villages Florida - View Single Post - Up, Up and away
Thread: Up, Up and away
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Old 01-15-2022, 07:09 PM
rustyp rustyp is offline
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Quote:
Originally Posted by rustyp View Post
Let's cure this euphoria:

Two years ago if you had a $200K house and wanted to move up to a $300K house it would be the difference plus 6% to sell you house. Thus $100K + $12K = $112K to move up.

Now in this heated housing market your little gem increased 50%. $200K x 1.50 = $300K.
Likewise that new house you desired increased 50%. $300K x 1.50 = $450K
Don't forget the 6% to sell your house which now equals $18K instead of $12K.

Thus to make the same move today is the delta between the two houses $450K - $300K = $150 K plus the $18k =$168K.

Let's recap sell two years ago and move up = $112K
Same exact sales today to move up = $168K
POOF - The winner is the real estate agent.
FYI The real estate agent netted a 50% increase. Was there any more work involved ?