MOVE-UP BUYING GETS EASIER

Many homeowners have been sitting idly, biding their time for the right moment to buy a larger, more upgraded home. Until very recently, move-up buying seemed impossible since home prices were declining and home sales were slow. The market has transitioned where the values in North Atlanta are steadily improving and homes are selling in less time. So, now move-up buyers are faced with the possibility of a quick sale on their own home, but have nowhere to land without using temporary housing. There are ways to buy first and sell your current home later. Strong buyers with good credit and assets may qualify to buy their new home, using a first and second mortgage.  Later, in their preferred timeframe, they would be able to sell the original home - ultimately using the proceeds to eliminate that second mortgage. There are even lending options called renovation loans for buying fixer-uppers without having to sacrifice a lot cash. A new gourmet kitchen, luxury master bath or a needed addition are all possible utilizing this product. Sounds complicated but, it is not with the right Realtor® and lender team in place and it can make long-term financial sense as well. Some of the higher price points are still a bit soft in certain areas, offering buyers good values. And, as market values continue to appreciate, the greater basis of a higher priced home, provides opportunities for enhanced gains once that home sells years down the road. Of course, it is not a guarantee but, worth consideration. The first step is to contact an experienced, licensed Realtor® who can connect you with a qualified lending professional. Working together, you can establish your home value, loan amount qualification, target communities for purchase and expected prices. Next, the fun part begins…finding your dream home!

Eve Jones