Perhaps it has never been more important to use a Woodbury real estate agent who understands recent trends in market values. When we visit your home to complete a market analysis, we will compare your home to all of the recent sales in your neighborhood. We need to look at all of the properties that have sold within the past few months to determine what the actual sales prices have been. By doing so we can estimate what price a home buyer might pay for your home within a reasonable period of market time.
The challenge for many sellers today is trying to get enough for their house to pay off the current mortgage on their home. If a property seller owes more on their home loans than what we can sell it for we will either need to discuss paying down the mortgage, attempting a short sale on their home, or listing it for rent and in order to move to another home. With the rapidly rising rents in today's market home sellers are often finding that they can cover all of the expenses for the home through their renter's income.
Lenders have specific guidelines for those Woodbury sellers who have decided rent out their home in order to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.
Once we meet to discuss your home's current market value it is critical that you go through the process of getting preapproved for mortgage financing on another home. Your mortgage broker can help you decide which of the options are best whether selling or renting out your current home. The process of mortgage preapproval is free, and if you decide not to proceed, there is no obligation to borrow money. A good mortgage banker will be able to analyze all of the options available to you such as MN FHA loans, Conventional, VA, or other types of mortgage loans.
If you are searching for Woodbury real estate agent you'll find this to be one of the more prosperous communities in the metro. The community has risen in stature over the last 20 years and consistently ranks high in Money magazine's best cities to in which to live in the entire U.S. With a combination of stable economy and excellent schools, Woodbury, Minnesota is a great place to consider raising your family. The system of trails, parks, and open space in Woodbury is noted by its residents as one of the more important reasons they live here. If your family is into active sports be sure to check out the Bielenberg Sports Center with its indoor ice rinks and complex of baseball and soccer fields. Woodbury offers an excellent parks and recreation department with activities for all ages.
If you think you want to learn more about selling your Woodbury home call or email me. I will work with you to complete a market analysis of your home for free. We will discuss your options based on today's real estate market. Feel free to send me an email or call me.Kevin SuttonÂ