I want to buy a new home but I still need to sell my current home and I think I owe more than the house worth on my current home.

Asked by Eric Nivanh, New Baltimore, MI Sun Jun 19, 2011

My neighbor's selling theirs exactly the same style of home for 50% less than what I owed on mine.

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Karen Paytas, Agent, Clinton Twp, MI
Sun Jun 19, 2011
Good Afternoon Eric!!

Can you afford and qualify to buy a new home while still owning the current home? If not and you have to short sale your existing home you would have to wait 3 years to qualify for a mortgage. Can you rent your current home? These are some of the issues you need to consider. If you would like some assistance and a market analysis of your home I would be happy to assist.

Have a Good Day!!

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes
Richard Mich…, Agent, Washington, MI
Tue Feb 25, 2014
Your neighbors home has nothing to do with yours. Even if they are same floor plan and everything. They are still 2 different homes. Your neighbor may be doing a short sale and that can have an impact on the listing price. Home prices are continuing to rise and your best advice is to have an agent com out and give you a detailed market analysis. That is the first start. Your agent will be able to advise you further from there.
0 votes
Steve Lawson, Agent, Chesterfield, MI
Fri Dec 6, 2013
Hi Eric!

A good place to also start is a comprehensive detailed market analysis of your homes current value.
Prices have gone up dramatically in just the last several months!
I have sold and closed more than 1000 transactions.
I would like to offer my services for a free market analysis - no cost - no obligation.

Let me know if I can help.

Steve Lawson
Associate Broker
Hall of Fame Club Member
Platinum Club Member
Re/Max Advisors, Inc
34350 23 Mile Rd
Chesterfield, MI 48047
Cell: 586-201-2224
Office: 586-949-0949
Fax: 586-273-1520
0 votes
Becky Drob, Agent, Shelby, MI
Mon Jun 20, 2011
Would love to speak to you about your options. Please email me at bdrob@mirealsource.com or call me on my cell at 586.489.6373
0 votes
Stephen Conn…, Agent, Birmingham, MI
Sun Jun 19, 2011
HI Eric,

Has a Realtor completed an analysis to determine what your home is worth? This should be your first step. I would be glad to do a C.M.A. ( Comparative Home analysis), free of charge.
0 votes
Marge Bennett, Agent, Fort Myers, FL
Sun Jun 19, 2011
Are you able to bring enough money to the table to sell your present home? Do you really want to sell that badly? Why do you want to move? there are some acceptable reasons, ie having to move for a new job, your family has grown too large for your present home, etc. If you are just having problems making your payments, talk to your lender to see if they will do a loan modification.
0 votes
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