You know my passion lies in helping first-time homebuyers,
especially you, educators. But it’s hard right now. Sellers are in the driver’s seat and many buyers have been unable to compete successfully in the market. But what if we had more homes for sale?? What if the number of sellers and the number of buyers was more balanced? How do we get more housing available to buy??
Well, I recently sat in on a training titled “Defying Inventory.” And that’s what we need to do. We need to Defy Inventory! We need to openly resist or refuse to accept the limited active inventory (properties available to purchase) in real estate today. In order to do that, we need more homeowners to decide to sell their homes. If more homeowners make the choice to sell, more buyers will be able to get into their first home.
So why would homeowners want to sell?? Equity. That’s one answer. The state of California has more equity than anywhere else in the country. Most homeowners in our state have 75% or more equity in their home. Lots of them own their homes free and clear: 100% equity. Which means, Californians can sell their homes here, buy elsewhere for a much lower price, put a nice chunk of change in the bank, and then live a fabulous life, mortgage free.
Some homeowners want to sell, but need somewhere to go. With the market as it is, they are reluctant to sell knowing that they will then have to join everyone else competing for the small number of properties out there. But what if these homeowners could buy first?? They could enter the buying world, find their perfect property, compete with a winning offer, and then sell their home?? There’s an app for that. Well, I don’t know if there’s really an app, but there is a loan for that. One that will “bridge” your transition from buying a new home before selling your old.
Imagine moving all of your belongings into your newly purchased home and then having a renovation company come in and totally refurbish and update your old home creating a top dollar property that will sail off the market in a weekend. Wanna do that?? I can help.
I’ve been talking to buyers and helping them get ready to enter the real estate market to purchase their first home, but today, I’m talking to sellers. Let’s turn the tables for these buyers by creating some active listings. If you are ready to downsize, upsize, or relocate, come visit me over at FirstHomeEd.com and let’s make that happen.
All good things,
Diana Cohen
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