Monday, January 29, 2007

Timing Is Everything

Selling your home and buying another is a challenge, but with the help of a professional it can be done without ever becoming "homeless." With our current market here in southeastern Michigan, with an abundance of listings for sale, it is important to get your present home listed for sale before you even start a serious home search for your new home. Obviously, you need to have talked to a Realtor and done some online searching to be sure you can affordably make the move to the area you desire, before you put your present home up for sale.

It's helpful to have a Realtor come into your current home and suggest ideas to make your home more marketable and competitive. Certainly pricing is a key element. Your Realtor can give you insight into the real estate market and show you listings comparable to yours and how they are priced. For example, what is the typical selling period? Likewise, look for the types of homes currently for sale. Educating yourself about market conditions will make the process less stressful for you.

You then need to explore whether you would be comfortable renting for a period of time if your home should receive an offer before you've found a home to buy. If not, your Realtor will work with you and add language to your contracts to sell and to purchase to coordinate the two closings.

If you are moving out of the area, to another State for example, ask your Realtor to search for a Certified Residential Specialist (CRS) who works in that new area. A CRS is a proven leader in residential real estate - only 4% of Realtors nationwide hold this designation. A CRS can offer you a great deal of insight into the new area before you ever go there for a visit to look at homes.