Don't Sell! That is ... unless you plan to buy!

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Real Estate Agent with Seven Gables Real Estate BRE 01727426

As a rule of thumb, we are advising homeowners not to sell if they don't have to. Here's the easy exception. If you plan on moving up and buying a new home in this same market - go for it.

Once you sell your house, you'll be participating in the same wonderful buyer's market with low interest rates and plenty of choices. After you sell, you'll achieve the same "savings" on your next home as you "lost" on your current home, plus you'll be locking in a lower property tax base then if you wait for the market to rebound and prices to start rising again.

The winning formula if you are selling: Hire an agent will meet your personal expectations, repaint in neutral colors, replace the carpet, make minor repairs, remove the clutter, stage it perfect and price it slightly below market.

Have a great day! 


Nancy Moeller, CPA, Realtor

www.TheOCExperts.com

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Rainer
129,600
Al Maxwell
Coldwell Banker - Marietta, GA
Real Estate Agent
Seems like selling first makes sense in this marketplace for alot of reasons.
October 07, 2007 11:34 AM #1
Rainmaker
217,003
Chris Sloan
Group 1 Real Estate - Tooele, UT
Tooele Utah Real Estate

Nancy... I agree, seems like good advise. But like a lot of blanket recommendations, will not fit all possibilities. Would further suggest that home being sold closes before new home is purchased. There will be a lot of inventory out there.

This is and has been a very complex market with homeowners using their home as a visa card, "seminar investors" buying property with high expectations and low staying power, to name a couple. One answer will not fit all.

October 07, 2007 12:21 PM #2
Rainer
144,020
Robert Whitelaw
Whitelaw & Sons Real Estate Services - Morgan Hill, CA
Broker, CEO, Realtor , ePro

So much depends on the sellers situation. A recent contact wanted to know about this and the clear solution, after looking at their numbers, was that they buy a new home using equity from their current home and rent out their current home. They will actually end up with positive cash flow on the home they rent and will be able to hold it and sell when the market is working for them rather than against them.

It's always great to see that "Wow we can do that!" look on someones face when you find a way for them to make things work for them on both ends. 

October 07, 2007 12:28 PM #3
Rainer
186,922
Chris Pollinger
Real Estate Business Advisors - San Clemente, CA
Another great post Nancy! Not only does it help the sales person by creating movement in the marketplace not already there, but it is a win-win for the move-up buyer in future equity and taxes.
October 08, 2007 11:34 AM #4
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Nancy Moeller

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