Should I Sell My House or Buy the Next One First?

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A lot of my clients want to know how to buy. Should you sell your current home first and then make an offer? Or should you buy and pay two mortgages until you sell your current home?

There's a few different things you should consider to find out what's best for your situation. If you want to buy your new home before you sell, you will have to pay two mortgages. Are you willing and able? Even if you are, lenders do have some requirements.

Lenders look at debt to income ratio, debt to equity ratio and cash flow. Some lenders also require 20% equity in both the homes combined. If you buy a home for $100,000 and your current home is $100,000, you will need $40,000 in equity.

You should also consider whether you are making a logical or emotional decision. Do you need this home or did you just fall in love with it during the walk-through?

If you have questions about whether to buy or sell first and which is best for your situation, please give me a call. We can set up a time to talk!

How to Price Your Home

Pricing is the #1 element in selling your home. Sellers ask us how they should price their home.

It's important that your marketing expert educates you on what's happening in the market. Are there other homes out there like yours? What are they pricing and selling at? That's our job.

We also look at what your appraisal value is and what the supply and demand is for homes similar to yours. How do we do this?

We determine the absorption rate. That means seeing what the supply is for homes similar to yours compared to how many buyers are out there. This figure will help us determine how quickly your home will sell.

It also tells us how to price - whether it's more aggressive or maybe you can ask for more money.

I hope you find this helpful; if you have any questions about how to price your home, please give me a call.

Thanks for watching!

5 Ways to Get Your Home Ready for the Market

Thanks for joining me today! Lately, I've had a lot of people ask me how to get their home ready for the market. If you're thinking about selling your home, give us a call. We will gladly  come in and give you a free market evaluation. That way you can see what your home is worth and what you can do to improve it. Here's five tips to help improve your home.

1. Look at your home through the eyes of a buyer - Start from the outside of your home and walk through it with a critical eye. What does your carpet, walls, trim, counter, etc. look like? This can help you see what a buyer will see when they look at your property. 
2. Professional Stager - We bring in our professional stager to get your home in the best showing condition. She knows how to get you the biggest bang for your buck. 
3. Get a pre-inspection - We recommend getting your home inspected before you put it on the market. This way you can fix all those potential deal breakers for a buyer. 
4. Get an appraisal - Just like a home inspection before listing, we also recommend an appraisal. 
5. Get your home in tip-top condition - Make sure the paint isn't chipping, the carpet is fresh, etc. This makes a tremendous difference.

If you have any questions, please give me a call. Let's figure out how to get your home ready for the market.