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Wake Me Up When COVID Ends

Troublesome choices to make in 2020

· home selling,home buying,Coronavirus,COVID,Inland Empire

Is now a good time to sell?

Any time is a good time to sell. Homes sell in any market. The question home owners have to answer is what are they trying to accomplish by selling. The following questions are a good start to consider before jumping in and listing your home for sale.

  1. How much equity do you think you have?
  2. Are you underwater in your mortgage? Will you need to bring money to the table to close your home sale? 
  3. Rather than price, what net do you need from your home sale in order for it to make sense?
  4. After you sell your home, where do you plan to live? Are you staying in the same town, or are you moving out of state?
  5. Are you purchasing another home, or plan to rent?

Is now a good time to buy?

I'm going to be honest here. It's not always a good time to buy. It's true that you will gain when you purchase, and lose when you sell. The following are some concerns to mull over before buying.

  1. How long do you plan on staying in your new home? For the majority of home owners, they will stay in their home for about 10 years. Do you plan on staying less than 10 years? More than 10 years?
  2. How will you be paying for your new home? Are you pre-approved for a mortgage? Have you shopped your mortgage loan yet?
  3. Do you know the purchase price you qualify for? Did you know homeowner's association dues, and taxes will impact the total purchase price you qualify for? You may qualify for a mortgage loan, but the property you plan on buying has to qualify as well.
  4. Have you spoken to a real estate agent? Do you plan on hiring one for your home search and purchase? Or do you plan on directly contacting the listing agents of homes for sale you might be interested in buying?
  5. Are you prepared to spend up front, out-of-pocket for home inspections? 
  6. Are you familiar with the neighborhood you will be buying in? Are schools a concern? Are you looking to buy in a gated community? Or in a 55+ community?

I'm open for business, but not open.

Because masks, gloves, hand sanitizer, and out-of-the-norm document requirements are "mandated" to sell homes during the extent of the state of California's Governor's state of emergency, I will not be participating in such activities. I can, however, offer guidance and tips for selling or buying your next home. After the state of emergency is over, and the mask mandate is lifted, I will be fully open for business to show properties to prospective home buyers, and to list homes for sale for home sellers. It's unfortunate, but not all of us are able to go along with the program.

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