DOWNSIZING TREND IN TODAY'S MARKET? Woman Rents 90-Square-Foot Apartment in New York
April 14th, 2011
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I saw this story today about a woman who has downsized to a 90 sf apartment! Now, I know that the trend in today's market for many people has been to downsize, and thus reduce their maintenance costs, insurance, taxes, and of course, monthly mortgage payment.
However, only in New York would you see a downsize reduction this extreme!
Of course, in Texas, with the current buyer's market, its possible now to UPSIZE (Texas Size It), and still save money! For example, I was personally involved with a buyer who was able to buy a 3 year old home that was foreclosed on. It was a 4,000 sf home, with an oversized lot in a nice neighborhood. Per MLS, it originally sold to the initial owner by a home builder for just under $250,000. The final sales price for the new buyer in early 2010 was for just under $175,000! A $75,000 reduction on the original builder sale price.
Now that's a Downsize on Price, but an UP on Size! Let me know if you are looking for similar hot deals! I can find them for you!!
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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