Questions About Today’s Real Estate?

Ask Phyllis!
The move up buyer

Dear Phyllis,
My wife and I have been waiting for prices to bounce back so that we could move to a larger home.  We don’t want to sell our home and have to move to an apartment.  How do we go about selling our home and moving directly to another?
 Cramped


Dear Cramped,
Each real estate market is different.  If you had asked me this question several years ago, I would have advised you to sell your home and have your buyer agree that you could rent it back for several months.  But prices are increasing and this would not be the ideal strategy for any move-up buyer in today’s real estate environment.

I suggest that you contact an experienced local real estate agent now.  Ideally you should have ample time to get your home prepared to sell quickly (de-clutter, make any repairs needed).  Professional photography should be done, the works.  If you are going to be competing against buyers without a contingency to sell their home, you must demonstrate to the seller and their Realtor® that you are serious and ready to go.  You and your agent will need to prove to them the marketability of your home.

Currently about 1/4 of home sales are sold with cash.  You will not be in a strong negotiating position, and this is why an experienced local real estate agent is critical – one with established relationships within the Foothill’s real estate community.

  Phyllis Harb