Wilmington Real Estate

Getting to your Next Home is a 2 Step Process

Today in Wilmington Real Estate and Wilmington Homes for Sale, I would like to talk about the topic of Getting to your Next Home.

When most people put their home up for sale, they tend to think about how much money they will put in their pocket at closing. It is a rare Seller who thinks ahead to the “second” closing of the home where they will live next.

With interest rate starting to rise and prices unstable, it makes sense to sell now and buy your next home before rates rise again. Sounds simple, but most Sellers are reluctant to lower their price because they think they are leaving money on the table. They are probably not. Their property is only worth what a buyer is willing to pay, not all of the other reasons that are floating around in the heads of most sellers.

If you are buying within the same market area such as here in Wilmington, Hampstead, or Leland, chances are the pricing is a wash since the conditions affecting you as a seller will still be there when you are a buyer. For instance, if you had to negotiate down to sell your current property, you will probably be able to negotiate a similar result for yourself as a Buyer. If you wait for the price to rise on your current house, you can count on the price of your next house to rise just as much.

In this market, it makes sense to get at the front of the line in terms of pricing your current property so when it sells you can then become a power buyer with a loan approval letter from your lender.

Call me when you have any questions involving real estate in the Wilmington, Leland and Hampstead, NC area. My direct number is 910-620-8838.