Home Buying in 85296>Question Details

Roy Spencer, Home Owner in Lyons Gate, Gilbert,...

Own a home in Gilbert, AZ. About even on value. Looking to move to Tampa, FL & buy new build. Looking to understand options and best process.

Asked by Roy Spencer, Lyons Gate, Gilbert, AZ Sun Jun 9, 2013

not sure about selling first, building & selling at same time, etc., or how to proceed.

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Answers

11
Hi Roy,
I would recommend listing and selling your home before you leave to Tampa so that you will have no problem qualifying for a new build in Tampa (and not having to deal with the headache of a home across the country). The market is HOT right now and you may surprised to find out your home is worth more than you think! Most homes are selling within a week, so this could all happen really fast. Let me know if you have any questions or if you would like a free Market Analysis done on your home. There are tons of buyers looking in Gilbert so I am confident that you will have no problem selling your home! Feel free to call me with any questions!

Tina Martinez
(505)227-7108
West USA Realty Revelation
0 votes Thank Flag Link Tue Jul 23, 2013
Hey Roy,

It looks like you have received quite the answers to your question but thought I would chime in.

I have helped several people in this situation but most of them are local transactions. Most home builders should allow you to start the process, sign a contract, chose all of your options etc to get a new build started with a Contingency on selling your current Gilbert Home.

If your current Gilbert home is more of a starter home in Lyon's Gate then it might have huge potential for an investor looking for a quick close and lease it back to you. Some investors have started pulling back in the Valley but it is still a great time to sell (especially if you bought during the 2009-2011 timeframe).

I know there have been plenty of responses but if you would like to meet I live right across the street in Higley Park and would be happy to send you a Comparative Market Analysis. Shoot me an email and I will send one you, no pressure bryce@fourpeakscompany.com.

Either way, best of luck with your decision and your move!

Bryce Henderson
602-999-9874
0 votes Thank Flag Link Tue Jun 18, 2013
Roy,

Feel free to contact me for a market evaluation if you would like one. You may be surprised about your evaluation.

However if you decide not too, I could refer you to a rental management until you decide to sell it.

Lucinda Tkach
602-799-6846
0 votes Thank Flag Link Mon Jun 10, 2013
Roy, I use to live in Tampa....what area are you planning on buying in? You may better qualify or have more buying power for the new build if you have the Gilbert property sold or under contract. You have Spectrum at Val Vista in your question so I've included some comps from the past 3 month in which 36 properties have sold.

Please give me a call when you have a moment.

http://www.flexmls.com/link.html?zq1fntl4ndb,12,1
0 votes Thank Flag Link Mon Jun 10, 2013
I would be happy to help and I am a highly qualified listing agent with extensive recommendations on my Trulia profile that you can see by clicking on my photo to the right of my response.
0 votes Thank Flag Link Sun Jun 9, 2013
Roy,

Mary and Shawn gave you some great advice. If you are sure you are moving to Tampa, FL, and want to purchase a new build, you will have a timing issue. However, it is completely up to you how you want to proceed.

Obviously the biggest concern will be the finances, and whether you would be able to afford to buy a new home while still having a mortgage on your Gilbert home.

If that is not an issue, then you could wait to sell your Gilbert home until you actually move into your new home, and then you would only have to move once - from your Gilbert home into your Tampa home. There is also the possibility that your home will sell for even more money in 6-9 months from now, given the way the real estate market is going. Obviously, there is no guarantee.

If you need to sell your current home to qualify for a new purchase, then you may have to move out of your Gilbert home, and find a temporary place to live until your new Tampa home is ready.

However, Steffy mentioned a lease-back option that could work for you. You could sell your Gilbert home, but lease it back from the new owner until your home in Tampa is ready. I guess that would depend on how quickly you wanted to get to Tampa.

You could sell your home here and move to Tampa right now, and find a rental there until your home is built. That way you could get everything moved and get things started in Tampa sooner than later.

It really all depends on you, and what works best for your situation.
0 votes Thank Flag Link Sun Jun 9, 2013
Good morning Roy,

I live in Spectrum and I will be happy to meet with you to discuss your options in more detail. Just let me know what day and time works best for you.

Johannes Rath
Realtor
ZipRealty, Inc.

Email: johannes.rath@ziprealty.com
Cell: 480.612.4958
Toll Free: 1.800.225.5947 x4127
Fax: 866.245.1356
My Profile: http://www.ziprealty.com/agent/jrath
*** CLICK HERE TO SEARCH ALL HOMES FOR SALE ***
0 votes Thank Flag Link Sun Jun 9, 2013
Roy,
I will be happy to discuss the timing of your sale. there is some good information in the answers below. I would like to add that creating a good strategy may be of crucial importance in your situation - you may want to explore options like lease-back until your new home in FL is move-in ready.
I work quite a lot in Gilbert, and would love to help you sell your home.
Please give me a call at 480-966-9353.
Steffy

Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353 Fax:
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Sun Jun 9, 2013
Roy, great question. You'll want to know just how long the new build will take in Tampa to build. At the present time our AZ market is Great for you as the seller and you should be able to sell in a very short amount of time with the right marketing.

You can list the home with the knowledge of how long it will take to sell your current home and purchase you new build with confidence of not having to pay two mortgages.

If you need any help please feel free to contact me.

Dan McNulty
480-352-3596
Best of East Valley 2013 Realtor
0 votes Thank Flag Link Sun Jun 9, 2013
Hi Roy,
Thanks for your question. That's really a question you have to determine on your own based on several factors, including your financial situation, how long it will take to build the new build, and you need to consider that when they tell you when a new build will be done, that's a "best guess" so don't consider that a hard and fast date.On the sell end, in this Gilbert market, I'm sure you will have tons of people looking at your house. You mentioned being about even on it, and we can discuss this privately if you want, but don't forget to subtract out from your sales price commissions, and title fees and also note that the principal balance you see on your mortgage statement is not the same as your payoff balance. You must add to that interest to the payoff date and usually a small "reconveyance" fee. I'm sure I'm noit telling you anything you don't already know there. I'm ALSO sure you are going to have NO problem with plenty of REALTORS wanting to help you sell your place, and I'm no different; I'd love to help you sell it. Do me a favor and just search Trulia, Zillow, or Homes.com for the top rated real estate agents in Gilbert (or for that matter Chandler, or any other East Valley City). You'll see that my team and I are the top rated team on here. What that means is that when we list a place, it gets maximum exposure on these websites and this is where several (million) potential buyers start their search. More exposure means more/better offers.

I'll leave it at that for now. If you have any further questions or would like our help, please contact me back.
Thanks,
Shawn I. Rogers, REALTOR®, CSSPE - West USA Realty
Website: http://www.MisterRogersHomes.com
Email: MisterRogersHomes@hotmail.com
Cell: 480-313-7031
Fax: 602-863-4619

ZILLOW: http://www.zillow.com/profile/Mister-Rogers-Homes
0 votes Thank Flag Link Sun Jun 9, 2013
Hi Roy -

The answers are based on your financial and moving needs. If you can handle both payments while your new home is being built, and you want stay in Gilbert while your new home is being built, it may benefit you to wait. If it will be difficult to pay both at the same time, or if you just want to move more quickly, then selling first may be the best bet. Selling at the same time and trying to make both sales come together simultaneously is very difficult. Your builder may need more time or less due to weather or other circumstances, and buyers may have issues that cause delays, as well.

The first place to begin is to call a Realtor (I'd love to help you with this) to come to your home and give you a true market analysis. This can only be done by seeing your home and knowing the area well. You and your Realtor will determine the price to list the home. When a contract comes in and is accepted, which should not be long if your home is priced well, then you'll know your timeline more precisely. A typical sale requires 30-45 days or so. Homes are selling quite well, and Gilbert is a great market right now.

Mary Wilson, Realtor
480-772-1846
MaryWilsonAZ@gmail.com
0 votes Thank Flag Link Sun Jun 9, 2013
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