What's the Best Process for Selling Your Old Home and Buying Your New One?

Considering Buying? Click here to search all available homes in your area

Considering Selling? Get a Free Home Evaluation

You may also call me at 562-900-9430 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I am going to be discussing how to purchase a new home when you already own one. Should you buy first, sell first, or own two at once? I've compiled a list of 5 typical ways to get from your existing home to a new one. Here they are:

1. Temporary Rental 
This is when you sell your home first, and then rent a property for a few months while looking for your new home. This will give you more time to find the perfect home, but will require you to move twice.
 
2. Contingent Offer 
You can make an offer on a new home and have it be contingent on you selling your current home

3. Contingent Sale 
Another option is a contingent sale. This is where you sell your home first, but make the sale contingent on your ability to find a new home. This way you won't close the sale until you've found your new home.

4. Sell and Rent Back
You can also sell your home, and ask the buyers to rent back the home for a few months to get time to purchase your new home.

5. Bridge Loan
A final option is obtaining a bridge loan against the equity on your current property, then using the loan on a down payment for a new home purchase. This gives you peace of mind to find the perfect home, but will result in you having two mortgages for a short period of time.
 
There you have it, the top 5 ways to buy a new home if you currently own one. If you are nervous about this process, you shouldn't be. I'm here to help guide you and provide you with expert advice. If you have any questions at all, please give me a call or send me an email.

How have You Helped Make our 2014 Great?

Considering Buying? Click here to search all available homes in your area

Considering Selling? Get a Free Home Evaluation

You may also call me at 562-900-9430 for a FREE home buying or selling consultation to answer any of your real estate questions.

We are nearing the end of 2014 and want to take a moment to reflect on the past year. We wouldn't be where we are today without all of your continued support. We appreciate all of your business, and are very thankful for all the clients we were able to help in 2014. We are also very thankful for your referrals, which mean the world to us.

From Tim, Barbara, Noel, Jackie and Joyce, we want to wish you and your family a very happy and healthy holiday season and a happy new year. We are looking forward to having another great year in 2015!

Is The Bubble About to Burst?

Considering Buying? Click here to search all available homes in your area

Considering Selling? Get a Free Home Evaluation

You may also call me at 562-900-9430 for a FREE home buying or selling consultation to answer any of your real estate questions.

With home values having increased significantly in 2012 and 2013, many people are wondering if we are in a housing bubble. Today we are going to take a look at some current market trends and statistics to come to a conclusion on whether or not we are in another housing bubble. 

What has many people asking this question is the fact that we are currently around the same levels on the home price index as we were in 2004, right when the previous bubble started. Looking at home values across the country, we have been seeing markets cool off quite a bit and we are headed toward what we call a normal market. For example, The National Association of Realtors is predicting median home prices in the country to appreciate 4.4% in 2015 as compared to 5.5% this year. 

We are seeing the level of appreciation across the country slowing down and not seeing the big appreciation we have seen the past few years. In California, home prices appreciated 3.5% in 2014 and here in Long Beach we have seen values remain relatively flat in most neighborhoods. It looks as though this market is starting to taper down and we are not headed for another housing bubble. We will keep more sustainable levels of appreciation as we head into the future.

If you would like to receive a market report for your neighborhood letting you know exactly how home prices are doing click here.