I have been in real estate in greater Portland [Maine]since 1985. 1990- 1993 were challenging markets, but I learned that there are definite benefits to this marketplace for certain people. It is a great opportunity to achieve significant equity, fairly quickly, that would be unobtainable otherwise in a hot sellers market.

The first category of folks is the group who own a starter home and wish to move up the ladder to a more expensive home. They will take a small hit on their starter home but will reap much greater reward by selling their starter home and buying the more expensive home. It is a great opportunity to get much more of a home for less money and when the market takes off again, instant equity occurs.

Of course, the wild card is always interest rates. Monthly payments can be much higher when interest rates increase. Bingo! That is why now is a good time to lock in your very low fixed rate and close on your more expensive home, which you will  pay much less for.

Stay tuned for another group who benefits from this marketplace.