Lauren Bunting Broker MD & DE

Move Up Buyers Stuck in Mud?

Monday, August 01, 2011, Lauren Bunting

Real Estate Report: "Move Up" Buyers Stuck in Mud

Our real estate market is missing an important element these days. Many homeowners who would like to upgrade to a larger home, commonly referred to as the "move up" buyer, have to hold off making a move.

A recent Los Angeles Times article reported that "Potential move-up buyers… are largely sitting on the sidelines these days, leaving a key part of the housing market stuck in neutral. The promise of rising prices and upward mobility, once a powerful force in the American housing narrative, has been all but shattered by the downturn."

Move-up buyers are often homebuyers looking in the $300,000 to $800,000 price range, according to the research firm DataQuick. It is an important segment of a healthy real estate market, since trading up creates a chain of buyers and sellers that helps to drive market values up and in turn helps homeowners build equity.

A large segment of buyers are trapped by a sluggish housing market and loss of equity in their current home, as well as the threat of an unstable economy and a very tight lending market. Of course, bigger and better is not always the best financial move for families, and a large number of homeowners are trending towards a simpler, more economically sound lifestyle.

However, it’s the chain of trades that occurs in a normal market that is lacking right now. For example, a common chain of trades is: Family A has another child and buys a larger house from Family B, who are retirees. Family A sells their house to Family C, first time homebuyers, and Family B buys a condo in Florida. This chain of trades is needed to help restore re-sales and their subsequent values.

Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.

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Thank you so much for all of your hard work. We are so excited to move into the perfect house for us, and couldn't have done it without your guidance.

Megan and Brandon Cater

My friend was right, you are the hardest working realtor, bar none. I honestly don't think that I would have gotten through this house selling process without you.

Brenda Burbage

Lauren made first time homebuying extremely approachable, and took the time to educate me on everything involved in the process.

Amanda Hanke and Keri Swigert

Thank you for all of your hard work and dedication that made this purchase possible. You advocate for your clients and I highly regard you for it. You made it possible for me and my family to achieve our goal of homeownership.

Tom Harutyunyan

Thank you so much for the very wonderful, professional job you did with selling our property. You will always be special to me.

Penny Carley

We want to say a sincere "Thank You" for all you've done for us! We know at times the road seemed never ending. Thank you for always staying positive even through our ups and downs of this process. We appreciate all you do!

Mike and Patty Locke

Lauren's extensive knowledge of the local real estate market proved to be invaluable during the purchase of our first home.

Allison Shockley and Patrick Molloy

Lauren is very easy to work with. She has helped me sell and buy homes in the area and has always been hard working and professional.

Jennifer K. Leggour

Lauren went through tremendous lengths to look out for us every step of the way all the way to the very end. If you are in need of a real estate agent who will treat your transaction as if it were their own and provide you with nothing less than A+ service you will be in good hands with Lauren.

Shireen and Mark Ambush

We were referred to Lauren by a good friend, and we couldn’t have been placed in better hands. Lauren went above and beyond in every way, throughout the entire process.

Liz Young

Lauren Bunting was our realtor when we recently sold two homes- one in Maryland and the other one in Delaware. To say we were very satisfied with all she did for us is an understatement!

Janet and Bruce Lathbury

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