In most cases, selling a home in today's market is a very fruitful venture. Homes are getting offers way above the list price in some cases and selling very quickly. The problem for most
Solutions for Selling and Buying a Home In Today's Market
Dated: February 3 2021
In most cases, selling a home in today's market is a very fruitful venture. Homes are getting offers way above the list price in some cases and selling very quickly. The problem for most people is, after you sell your home, where do you go next? If you are moving out of state, that may not be too much of a problem. If you are trying to buy relocate locally, that could be a more difficult situation.
Here are a few ideas for managing this issue as you decide to take advantage of the current sellers market:
- Bridge loans - A bridge loan is when you take a loan out on the equity of your current home and use that to purchase your next home without any contingency of having to sell the current home that you are in. I do have lenders that can give you more information on this if you choose.
- List your home contingent on finding a replacement property - Many sellers do this, however, it can be difficult getting your offer accepted on another home if they know that you have to close your escrow on your home first. That adds some "barriers to entry" on getting your offer accepted. Less strings attached is better with any offer.
- Sell your home and find temporary living - This may not be easy but it is an option. Not everybody has family to stay with, especially if you have a large family. Believe it or not, there are still some options for 6 month apartment rentals in the area, althought that may not always be the desireable option.
- Air BnB - This may sound crazy but if you know someone with an Air Bnb property, you may be able to negotiate some type of arrangement to stay there until you can get into another home. Already furnished and you wouldn't have to move twice!
Don't forget that if you are planning on moving out of state, I am part of a nation wide network of agents. I can help get you set up with a trusted agent in any other state to help get you on the path to a new home elsewhere. Contact me if you have any questions about this blog. I'd love to go into more detail if necessary.
My name is John Alagna. I thoroughly enjoy the process of helping families and individuals buy or sell a home. For those that are unfamiliar with the process of buying or selling real estate, I pride ....
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November Real Estate Stats for the Temecula ValleyAverage Days on Market - 49 (45 days in October)Number of Active Listings - 1,000 (1,199 listings in October)Number of New Listings - 389 (513