Will You End Up Homeless?

By -
Photo Credit-Yutaka Seki


Lets place you in a scenario...
You have decided it is time to move.
You know what kind of home you are looking for.
You also know that your current home will sell quickly because there are more buyers in the market looking to buy a home than there are homes for them to buy.

But wait...
Will this scenario not be a problem when you are the one on the buying end?
Doesn’t this all mean that you could potentially sell your home in record time and have nowhere to go?
Where does that leave you should you take advantage of this being a sellers market?

Homeless?

As a Realtor, I understand the worry.
In my career I have assisted many people in a similar situation and I hope I can put you at ease with the following:

You won’t be homeless.

Not with the right Realtor as a partner.
The only real risk in this situation is if you let fear hold you back from making a great profit on the selling end of your move.
You may never get the home you really want if you are not in a good position to buy it when you submit the offer.

By good position I mean that unless your current home is in escrow or sold, the offers you submit on your next home will not be as strong.
Sellers (including you) will select offers from buyers that are the least likely to fall through.
Deals that are the least likely to fall through are from buyers who have the ability to buy their next home either before their current home sells OR buyers that have already sold their home.

I digress back to the original question on many peoples minds...

Could you end up homeless if you sell your current home prior to finding your next?

No.

You will not be homeless. 
Any realtor who really cares about you and your family will have options lined up should you sell your home before finding another.

Here is the deal...
In a market like our current one if you submit an offer with a home that has already closed you will likely jump directly to the top of the line of attractive offers when a seller considers the multiple offers they receive.

Also, because inventory is so low you stand to get a great price for your existing home. When we are going through a pile of offers above asking price... you will see what I mean.

The moral of this story if it applies to your current situation...

Pick a good Realtor to partner with. 
We have run into this kind of sellers market before and we can get you through it with a handsome profit.
If you are not in my local area I can help you interview a Realtor that knows how to manage this kind of market.
It costs you nothing to have a Realtor you trust help you interview other Realtors on your behalf.
This is not a market you want to pick a Realtor out of a hat.

I wish you good fortune on your next move!

Comments

New comments are not allowed.

Popular posts from this blog

Making the Move That's Right for You: Downsizing

By -
Image
Buying a home is one of the single biggest purchases people make in their lives and for several of us, it will be a process we go through multiple times at various points in our lives.  Welcome to the third and final part of our series in which we are exploring the surrounding circumstances of home buying and/or selling  throughout the various stages of your life. After years of living in the beautiful home you traded up to in order to accommodate your growing family, there will come a point where the kids move away and you'll discover that you now have simply too much space.  When that moment arrives, you'll want to embrace the beauty of downsizing.  Downsizing: The Competitive Edge Of the three stages of the home buying circle of life, sellers who find themselves in the downsizing stage are typically in the most advantageous position of them all.  Those in the downsizing stage have usually bought and sold a house or two by now, so they'll start the process with e
Read more

The 5 Phases of emotions when buying a home go something like this...

By -
Image
The 5 Phases of emotions when buying a home go something like this... Stage 1: “We are so excited!!!” You are past the part where you figure out how much home you can afford and now it is time to shop! The budget and the money are all set.  While you’re busy on Instagram and Pinterest feeling euphoric and there are sugar gumdrops all over the place in your head. Stage 2: “Wait...this is a lot to think about.” Unfortunately, there’s a lot of deciding involved with buying a home. In a market like ours you have figured this out fast!  All of a sudden you feel like you’re drowning in decisions and to do lists!  Buying your first home is feeling intense. Stage 3: “We are the happy hunters” With help from your real estate broker, you are making a lot of progress. You are seeing some homes you like and things are feeling a lot less overwhelming as you now have a guide to lean on and ask questions. Stage 4/5: The Freak Out and The Feet up. Everyone freaks out.
Read more

Millenials Investing in Real Estate?

By -
Image
I thought they all still lived at home? Turns out our vision of millennials may be changing. Some of them, after all, are 35 years old. More and more we are hearing about Millennials and how traditional and optimistic they are. It is refreshing to see a younger crowd that believes in homeownership. Maybe they are not all wanting to live in a rented 500 square foot apartment after all. Here is an article that was written this year by:  Eric Rosenbaum  of CNN Millennial money myths: The truth about homes, cars and ownership Eric Rosenbaum When it comes to trying to get inside the head of millennials, don't buy the buzz about the "don't own" economy. The success of start-ups like Netflix, Spotify and Uber have led to predictions that future Americans will choose not to own and drastically shape the future consumer society. But when it comes to big purchases — the kind that can be very good or very bad financial decisions — millennials are not that di
Read more