No Guts! No BLue Chips!
Let's talk about getting "out of the comfort zone" to generate some blue chips.
It takes guts, knowledge and the right connections to make changes when others are afraid.
As a real estate consultant, I am encouraging existing home owners wanting to move up, to do it now. Many families are reorganizing with the employment changes where children and grand children are coming to live with parents. Why not buy a bigger house and enjoy the change while the prices are down. Individuals who purchased a home in 2002 or before could be in the perfect equity position to move up now too! Do you want that two or three car garage or the den and 4th bedroom? The time could not be better to start looking to see if you can make the move. There are no blue chips if you don't get in the game!
Do you think part of the Rockefeller portfolio included real estate? The short answer is yes, and we all have an incredible opportunity right now to investigate the potential and calmly take action.
Real estate is an ever evolving entity. Right now external factors are creating a "Cosmic Cow Pie" atmosphere which is hard to navigate through.
Connecting The Dots for a successful transaction is hard today as the dots seem to move on a daily basis. Nothing is easy to keep together even when the dots are aligned because change just happens!
- Interest Rates
- Qualifying guidelines
- Foreclosure reports
- Short Sale announcements
- Shadow Listings
- Insurance issues
- Declining income status
- HUD requirements
- PMI changes
- FannieMae and Freddie-Mac updates
It all seems like a vicious cycle of unending changes. HOWEVER, not all change is BAD!
The good news is there is a SILVER lining to the foreclosure cloud.
3 SIMPLE to understand reasons for owners to calmly consider a move up to their dream home.
- Interest rates are extremely low.
- Inventory is very high.
- Buyers have TIME to think about their decision in a calm manner without pressure
If you have owned a home since 2002 or EARLIER, you might have good equity, even in this bizarre market, you could be in the PERFECT position to move up to a dream home.
It might sound crazy but if you take a step back and think about the 3 points above you will see why you should start looking into a move.
The process is easy!
- Select an agent who specializes in your area and can also represent you on your new purchase as a buyers agent.
- Get a market analysis so you know how much equity you have to work with.
- Get pre-qualified with a lender to know what you can qualify for. Your agent will have several lenders they have worked with and you can compare and choose the one who relates to you best.
- Shop around with your "buyers agent" to see if there are homes which meet your "dream" specifications. (You don't want to find your dream home on the first shopping trip. You just want to determine if there are home in your price range that would meet your needs. This trip or two is only "recon" to determine if you want to go forward.)
- List your home with an important contingency! Property is listed subject to the seller contracting and closing on a new home. Closing and possession must coincide and be concurrent or the contract is null and void.
- Accept an offer on your existing home with a 2 week contingency to contract for a replacement home. This contract is accepted expressly conditional upon the seller contracting for a new home within 14 days of acceptance. Closing and possession must coincide and be concurrent or the contract is null and void and all earnest money will be returned to the buyer.
- Go out to find a new home with your buyer's agent and contract for it with a similar contingency. This offer is expressly conditional upon the home located at ________________ ( your address) successfully closing. Closing and possession must coincide and be concurrent or the contract is null and void and all earnest money returned to buyer.
- Should you not be able to find a new home the buyer has 2 choices. Give you 2 more weeks to locate a new home or the contract terminates and the existing buyer get the earnest money back and you find a new buyer.
- Once you find a buyer who will work with you the process is simple. Complete the two transactions with the contingencies and everyone is a winner!
If a new home is still on your dream list then take some footsteps now to see if you can keep that dream alive!
Whether you are looking for a second home, a move up home for a growing family which could include children and grand children coming home or an investment, NOW IS THE TIME!
The prices are affordable!
The interest rates are the lowest in years!
There is no pressure, you prepare to be able to make the decision ONLY when the time is right!
"Connect The Dots" with the right real estate agent and keep the American Dream alive!
It's your turn to win. The cards are on the table, all laid out for you to play!