Home Selling in Lynwood>Question Details

Jesus, Home Seller in Lynwood, CA

Is it a good time to sell still or should we keep the house?

Asked by Jesus, Lynwood, CA Sat Aug 16, 2008

We can still make payments, but wanted to move to different location from Lynwood.

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8
Monique & Joe Carrabba’s answer
Hello Jesus,

If you need to move then it's a win-win for you. You might not be able to get top dollar for the house you sell BUT you will be rewarded with better pricing on your replacement home.

Best,

Monique Carrabba
The Reavis Group
Keller WIlliams WIlshire
mcarrabba@kw.com
Eco Broker and Realtor
1 vote Thank Flag Link Sat Aug 16, 2008
Although you might not get as much as you hoped for your home in this market..you will be able to purchase a larger home for less then you would have expected. If you would like to move, there are many homes to choose from on the market right now, with sellers who are very motivated !
0 votes Thank Flag Link Thu Aug 21, 2008
Jesus
It sounds to me as though you should discuss your plans with a Realtor that knows three things:
1. Your personal situation (when you want to move, why you want to move, and your possible alternatives)
2. Your local market trends
3. Your property

Unfortunately, I don't think any of the posters, although very well-intentioned, know these three key things. My recommendation is to speak with a few top Realtors in Lynnwood and ask them a lot of questions to figure out your possible options and the costs, pros, and cons, of each.

I do not work in your area however I would be happy to refer a top agent that does. You can contact me via my Trulia profile or call me 1-888-284-2056.

As my dad always said, measure twice, cut once.

Keith
0 votes Thank Flag Link Wed Aug 20, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Jesus,

Everyone's situation is different. You mention that you want to move into a different area.

When you say you can still afford the payments, you don't mention whether your house is still worth more than you owe. If you have enough equity to make a move you probably should. If you don't have enough equity to cover the loan and the sales expenses you are in what we call a "short pay" situation. If this is the case you won't be able to buy a replacement home for at least a year or two. Since renting has become pretty expensive it's hard to say what your best choice would be.

I would recommend finding an experience Realtor or financial advisor that you trust to help you make a decision.

Good luck,

John Hickey
Dilbeck Realtors, GMAC
818-541-7311
John@JohnHickey.com
0 votes Thank Flag Link Sat Aug 16, 2008
It would be the time to sell if the conditions were right for you, meaning you have equity in your home, it is in good condition and you can find a great buy on your new home in a new area you desire. You have to look at it as you are not loosing money on the sale of your home, you are making less. HOWEVER the money you save on the new home far outweighs the extra money you may make if you wait a year or two. When the value of your home goes up so do the prices on the homes you are going to want to buy. So if you find a great home at a great price go for it. If you rent there is no guarantee they will keep teh house in the same condition it is in now, if they wreck it or stop paying rent then there goes your value.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Aug 16, 2008
Why would anybody sell in this market? One good reason is relocation and another is desperation. Rents are going higher and higher and the prices to sell are going lower and lower in 98% of the country. Its a great time to buy and hold!
Web Reference: http://www.renter2buyer.net
0 votes Thank Flag Link Sat Aug 16, 2008
Jesus,

I agree with Monique 100%

Karen Miller
(562)756-4144
0 votes Thank Flag Link Sat Aug 16, 2008
Are you in an equity position on your home?
0 votes Thank Flag Link Sat Aug 16, 2008
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