In the recent months, I have encountered numerous people who ask "Should I Sell".  The public is learning that inventory is low resulting in higher prices and higher values for home sales.  This is normally termed a "seller's market".  Selling your home for higher prices and yielding thousands of dollars at closing sounds like a great deal. 

One of the factors you must consider is when you sell, you will more than likely, need to buy.  The result is that you are now on the buying side experiencing the same frustrations and low inventory buyers of your home experienced.  What do you do?  How do you know if you should sell and buy a new home? 

Here are some quick items I usually advise my clients on:

1.  Consider the Financial Obligation of Selling-  What do you owe on your current home?  What does a professional Realtor say the value of your home is?  Now factor in closing cost for selling your home which could be up to 16% of sales price.  Does the remaining estimated amount make sense for you?

2.  Consider the Financial Obligation of Buying-  Have you been pre-qualified for a home or can you be pre-qualified?  Do you know your existing credit scores and are they above 620-640?  Factor in about 8-10%  for closing cost.  What amount of money will you have for down payments, moving, earnest money?  What amount of payment are you comfortable with?

3.  Look at Homes-  If you are going to need to sell and buy, then you need to know the homes on the market.  Ensure you find some homes you would like whether a new build or a resale home, ensure their are homes you may like when it comes time to buy.

4.  Consider New Build versus Resale-  Resale homes can close in 30 days.  New builds could be up to 4-6 months depending on whether the home is inventory or built from beginning.  This decision will help with the timing of placing your home on the market

5.  Be Flexible-  You may sell quickly so be willing and able to move into temporary residence.  This could be a family member, short term lease or apartment while your home is being built or while you find a home

There are many things to consider when you decide to sell or not.  A trained, professional, Realtor(like myself) can walk you through the decision making process.  As I have a consultative conversation with my clients we discuss all areas of the transactions.  The process can be easy and without stress, as long as, you and your Realtor partner together.

Be an informed seller and consumer.  Ask your Realtor questions and ensure they go through all scenarios.  Set a game plan and ensure everyone agrees!

Call me!  I would be happy to discuss your specific needs!