In a down market, what's the best way to move up to a bigger house?
OK, here's my take: Sell your house first, move to a rental, and then focus on buying.
Why put yourself through the stress of trying to buy a new home while you sell your old one?
A high-wire act even during the best of times, selling while buying has become even more difficult as the pool of credit worthy buyers willing to take on a chance on falling market dwindles.
Instead, by selling first, you have the flexibility of a first time buyer coupled - hopefully - with a little cash in your pocket.
That's my take, though I suspect I am in the minority here. What's yours?
On a side note, trader uppers once again make up the majority of the market, according to the latest survey by the National Association of Realtors. Repeat buyers now account for 56 percent of the market, up from 40 percent a year ago.
Of course, these numbers are skewed by the fact that the home buyer tax credit last year temporarily flooded the market with first-time buyers.
For what it's worth, NAR reports that home prices fell in 72 percent of the nation's metro markets in the second quarter, including Boston, which saw a relatively modest drop of 1.4 percent.
