It can be done. You can buy a new home in Greensboro and sell your old home at the same time – and it doesn’t have to be stressful. There are many advantages to simultaneous home buying and selling. You save money and experience less hassle. But the key to success in this process is working with the right home marketing firm and realty company. Smith Marketing, Inc. has the expertise to sell your home and help you to find the new home you are looking for. Our team will work hard to get your home in front of as many potential buyers as possible, while showing you homes for sale that meet your criteria.
What happens if my house sells before I’ve found a new one?
When this happens it can put unnecessary stress on home buyers. But it doesn’t have to be a problem. You have a few options. You can rent temporarily and put some things in storage until you find a new home that you like. This may make moving a bit more of a hassle, but it’s better than rushing into the purchase of a home you may not be completely happy with. Sometimes you can negotiate a rent-back agreement, which gives you the option to stay in the home for 60 to 90 days in exchange for a slightly lower sale price or rent payed to the buyer. There are ways to work within this situation so that it doesn’t cause undue stress.
What if I find a new home before my old home has been sold?
The opposite situation can also be worrisome: You’ve found a new home you are ready to purchase, but your current home hasn’t sold yet. It can be financially overwhelming to attempt to pay two mortgages while you wait for your home to sell. There are a few options that can help with this situation. Contingency contracts can be used when buyers want to make the purchase of a new home contingent upon the sale of their old home. This works well if the seller has had a difficult time selling their home, but it may not work in a very competitive market. If the seller has other offers that don’t hinge on a contingency contract, they may choose to accept another offer. Bridge loans are a financing option that make it possible for you to pay for two homes for a temporary time period. The loan would be paid back after the sale of the old home.
Smith Marketing makes property search in Greensboro a breeze
When you are ready to put your current home on the market and start looking for houses for sale in Greensboro, NC, and the surrounding area, call Smith Marketing at (336) 215-7880. We
will guide you through the process of preparing your home for sale and listing it, after which we will help you to find the new home of your dreams. We can make this process as easy as possible, whether you sell or buy first. Together with Allen Tate Realtors, we have a long history of successful home sales in Greensboro and the Triad. We look forward to working with you.
For more information on the home buying and selling process: http://www.realtor.com/advice/buy/buying-a-house-while-selling-a-house/
As our country continues to recover from the recession, the housing market is recovering as well. Home values are rising and are nearly back to what they were a decade ago. The housing market affects nearly every American and both impacts and reflects the current economic status of our country. So what does this mean for the local housing market? You can expect to see more houses for sale in Greensboro, NC, this year.
It’s a seller’s market right now, but buyers benefit too
Since home values have risen, sellers can expect to get closer to full value for their home. While this mostly benefits people selling their home, there are also advantages to home buyers. Because home values have been low in recent years, people (on the whole ) weren’t selling. But now we can expect to see many more homes on the market, giving buyers more options than they had last year. Higher housing prices may discourage some buyers, but improvements in the job market should help to balance that out with higher wages and a lower unemployment rate. Buyers can also take advantage of low mortgage rates, for as long as they last.
Advantages for first-time home buyers
If you have been considering purchasing a home for the first time, 2016 may be your year. The Federal Housing Administration (FHA) lowered their fees in 2015 and will hopefully do so again as the economy improves. Younger homebuyers and homebuyers with less than perfect credit may have a better chance to qualify for mortgages and lower mortgage rates because the credit requirements should soon become more reasonable.
Smith Marketing and Allen Tate in Greensboro are expecting a great year
Whether you are looking to buy or sell a home this year, Smith Marketing along with Allen Tate Realtors will help you accomplish your goals. When it comes to selling homes, Smith Marketing has the expertise to strategically list your home in order to get it sold more quickly and for a number that’s closer to your asking price. Allen Tate in Greensboro will be sure to find serious buyers who are interested in your home and get it in front of as many eager eyes as possible.
If you are looking to purchase a home this year, Smith Marketing has listings of hundreds of homes in the Greensboro area. When you work with Allen Tate in Greensboro, you can expect a realtor who will listen to you and show you homes that meet your needs and suit your tastes. Use our property search to find homes in your area that meet your requirements. Contact us here or call us at 336-215-7880 to start your home buying or selling process.
For the full article from the Washington Post on the 2016 Housing Market Outlook: https://www.washingtonpost.com/realestate/a-look-at-the-trends-that-will-impact-the-financial-stakes-in-housing/2016/01/06/44de14ce-9d16-11e5-a3c5-c77f2cc5a43c_story.html
You’ve decided it’s time for a new home. Maybe your family has outgrown your current home or it’s time to downgrade now that the kids are grown up and on their own. Whatever the reason, you need to buy a new home and sell your current home. This can be done in three basic ways:
Buy a new home first, then sell your current home.
- Move only once. There’s no need to move somewhere temporarily because your current house sold before you found a new one.
- Financial Burden. You will be paying two mortgage payments and utility bills for two houses at the same time until you sell your old home.
- This is the exception – not a lot of people can do this
Sell your current home first, then buy a new home.
- Financial Freedom. You go directly from making one monthly mortgage payment on your old house to making one monthly payment on the new house. No leftover bills from your old house to contend with.
- No rush. Take the time to get the best offer for your home. You won’t have to accept a lower offer because you are in a hurry to sell.
- Most families looking for a home will put their current home on the market. In the meantime, if they find a house they would purchase they make an offer contingent on their house selling.
Buy and Sell at the same time.
- Only move once. When the timing is right, you can close on your new home and move in before you have to vacate the old one.
- No financial burden. No need to pay two sets of bills for two houses for any length of time.
- This is probably the best situation but as stated above, timing is important. Most sellers will arrange their closing date to correlate with the date they move into their new home.
- Tricky timing. In order to pull this off, timing has to be impeccable. The scheduling of closing dates has to be just right to prevent you from having to vacate your current home before you can move into your new home and to avoid extra costs.
If simultaneous buying and selling of homes sounds like the best option to you, you need the right partner. Consider buying through and listing with Smith Marketing and Allen Tate Realtors. Smith Marketing’s expertise on Greensboro real estate means you will find the home you are looking for while your home is sold. Smith Marketing knows how to list your home to make sure it sells. And you will have all the help you need to find the best new home for you and your family. Browse the complete online listing of homes for sale in Greensboro, NC. Use the Advanced Search to narrow down the criteria until you find just what you’re looking for. Meet with a realtor to start touring homes. Find a great new home. Sell your old one. It’s that easy with Smith Marketing.
More on buying and selling real estate: http://www.realtor.com/advice/sell/how-to-sell-your-home-and-buy-another-at-the-same-time/
As you can see from the graph below, the Federal Funds Interest Rates peaked in 2006 to 2007 and crashed after the housing market collapse in 2008. Now, for the first eight years, the Feds are planning on raising the interest rates. How dramatically and how quickly they opt to raise the rates will not be known for a while. However, some policy makers are anticipating the rate could be high as 3%. If that happens, then it will create a dramatic increase in mortgage interest rates in the very near future.
For example, if the amount financed is $150,000 today at 3.8% interest rate, the monthly payment would be approximately $900. However, if the interest rate doubles in the next few years to 7.6%, then the monthly payment will skyrocket to almost $1,300 per month. That’s a $400 increase in the monthly payment.
Although home sales plummeted after the housing collapse in 2008, home sales have been increasing since 2011. An increase in demand means that homes prices will also increase in the coming years. You can see from the chart below, existing home sales have been steadily increasing month over month and is expected to continue. Now truly is the best time to buy your Greensboro home.
Greensboro offers quality homes for sale at affordable prices. The median home price in Greensboro is only $104,700. Plus, Greensboro is ranked as one of the top 100 places to live in the country, has an average commute time of only 20 minutes, an unemployment rate of only 5.8%, and a the cost of living is 12% lower than the national average.
Additionally, if purchasing one of the many homes for sale in Greensboro, NC that are available, you and your family have an abundance of higher education choices available within less than an hour’s drive that include top ranked schools like:
- University of North Carolina
- Elon University and Law School
- North Carolina Agricultural and Technical State University
- Duke University
- Wake Forest University
- North Carolina State University
If you are looking for a luxury home for sale in Greensboro, then now really is the time to buy. Smith Marketing, Inc., is your best resource for homes for sale in Greensboro. We can provide you with the best resources and facts for important home buying decisions. Call us at 336-215-7880 to begin your new home search.
*Source for Graphs, www.forexfactory.com