Should You Buy Before You Sell?

Good article from Sofia Nadjibi regarding buying before you sell.  Please let me know if you are thinking about ways to "buy before you sell". I have many resources and advice about this. 
It allows allow you to 1) know what you can afford on your new home, 2) allow you to compete on a new home by offering cash, 3) and sell now at the pinnacle and possibly purchase when/if, and that's a big if, it becomes a little better market for buyers; the proverbial strategy: Sell High, Buy Low. Read on....

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars!

And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer. As this happens, home prices rise, and sellers are in the best position to negotiate deals that meet their ideal terms.

As a buyer, or realtor, your goal should be to write up the most attractive offer. The first strongest offer is all cash, the second strongest is the bridge loan.
  • Non-contingent
  • Mimics all-cash
  • Closes quickly
Curious to find out how a bridge loan can give you the winning edge? Let's connect today.

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