Sell my home in Albany, CA and buy in Lafayette, Orinda, or Moraga?

Asked by Carrie, Albany, CA Wed Jun 11, 2008

We have owned our home in Albany for three years. Although the school district and neighborhood are great, we need more space. I found a property in Lafayette that has been on the market for over three months. Problem is we would need to sell first in order to qualify for a loan but I'm afraid the property will be sold before we sell our Albany home. Should we take a second on the Albany home first in order to put a down payment on the Lafayette property? Do you know of a good mortgage broker that will work with us? Our savings is nil and we are on one income. Any help is appreciated. I guess I'm looking for some words of wisdom from the pros.

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Mike Rowland, Agent, Pinole, CA
Fri Aug 6, 2010
Carrie, I work in the Albany area and own a home and have lived within a few miles my entire life. Albany is different than many cities. The market has not affected your homes values like many other cities in our area. Albany is very desireable and your property will sell very quickly if properly priced. Number one reason is schools are incredible, best in the bay. Transportation is excellent Bart, ac transit and freeways are very close by and convenient . Shopping and dining are abundant. You could put your house on the market at the same time you are looking. I have done this many times. It requires cooperation with agents and buyers and sellers but very much possible, the loan could be put in place ahead of time based on the proceeds you are getting from your home sale. Feel free to contact me direct to discuss your personal situation. I have an excellent mortgage broker who lives nearby that can make clear all your financing options.

Here is a home we have on the market in Albany right now.........

Mike Rowland
Windermere Rowland Realty
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Geoff, Home Buyer, 94612
Sat Aug 2, 2008
I agree with the pros. Plus, one of the first rules is to not fall in love with any particular house. You lose your bargaining power and as Eric points out, you may be pleasantly surprised that something better comes along
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Eric Bryant, , Long Beach, CA
Wed Jun 11, 2008
I agree with Mary and Ken, it 's not recommended to put yourself in such a tough position. Get the house in Albany sold, and you will be surprised whats out there! Let me know if you need a good Realtor to help you sell your home. Best of Luck! The Coach
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Kenneth Lee, Agent, Piedmont, CA
Wed Jun 11, 2008
Hi Carrie,

I do not recommend that you over extend yourself financially. I understand that you really like the house in Lafayette, but from my experience in working with buyers, you'll find one just as nice when you are in a better position to make an offer.

Feel free to email me and I would be happy to give you some referrals for loan brokers that my clients have worked with in the past and have been quite pleased with their performance.

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