Moving up to your dream home

If your income has increased, you are probably thinking about moving up in your life style. Your dream home is now within reach. The best financial strategy is to sell your existing home first before making an offer on your new home even if you are considering new construction.  It is taking resale homes about 6 months to sell in the current market which makes this a “buyer’s market”. You will strengthen your financial position by having an accepted offer on your old house before buying the new one. Additionally, builders/sellers will look more favorably at your offer if you do not make the purchase of your dream home contingent upon the sale of your old home. Case in point, I had a family put their home up for sale by owner before they contacted me to help find them a  new custom home on the west side. I suggested that they first sell their existing home before making an offer on a new home. They decided to ignore my advice and made an offer with the help of the builder’s representative (who ONLY represents the builder) on a custom home which included a hefty builder’s deposit up front of $5000. They moved into the new home  five months later but are now carrying two notes as their old home has not sold after nearly a year.  They are now considering renting the old home for a fraction of their outstanding mortgage.
Call me today if you are in a similar situation.

Yvonne A. Russell,  REALTOR® 
RE/MAX Associates
10940 Ben Crenshaw, Suite C
El Paso, Texas  79935
CELL (915) 873-8646 | (888) 845-2408 |FAX (915) 594-9253
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