Every Home Has a Story. The Next Chapter Begins When You're Ready.For many homeowners, selling the family home is one of the most emotional decisions they'll ever make.This isn't just a piece of
Double Move ! Do I have Too?
Dated: December 21 2020
Views: 161
I know the Big Question is, “why do I have to make a Double Move if I Sell my House?”
Unfortunately, it is true, in Colorado at the end of 2020; we are still experiencing a seller’s market. Our single family home inventory in the Denver Metropolitan area is down by half of what it was a year ago and this means you may have a double move in your future.
Here are a couple of contributing factors.
· Lower interest rates. Lower interest rates mean people can afford to jump into the market, therefore creating a bigger demand on an already hot market.
In addition lower rates allow existing home owners to refinance at a lower rate and stay in their home and perhaps even remodeling instead of selling, therefore not increasing the inventory.
· Population growth. Denver in 2020 experienced 2% growth from 2019.
All of this creates a housing shortage.
So what do you do if your want to sell your home but you’re afraid you won’t be able to find a home when the time comes to buy another one.
Not to worry, here’s a couple of Options:
· Ask the Buyers to agree to a Post Occupancy Agreement. Most Lenders will allow up to 60 days. This may give you a running start to find a home and get it under contract.
· Buy New Construction. Sometimes buyers back out of their contract with a builder. The builder then has an inventory home that they would love to buy. Possibly at a good price.
· Extended Stay Hotels. Such as TownePlace Suites by Marriott. This can be a little pricey; however, it’s a good option if you know its short term. It can be less expensive than a short term lease on an apartment.
· Final option, you can move in with a Friend or Family member.
Moving to a new home can be stressful. Have a plan. Look into the cost of Storage Companies. Many companies will provide a service to pack, store and deliver once you have made your final move. Try to eliminate items that you've been holding onto that you may never use or need in the future. A well thought out and thought through plan will serve you well down the road.
Look at the bigger picture. Don't be afraid of a double move that potentially prevents you from living in your Dream Home.
If you have any Real Estate questions, please Call Me!
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Centennial CO Real Estate - Mike Conner, Broker Associate / Realtor with EXIT Realty DTC – Mike Conner is a Real Estate Professional in Centennial CO, which is located in Arapahoe County. I list and sell in Centennial, Aurora, Parker, Highlands Ranch, and all nearby communities. 720.422.1765
Mike Conner
Mike Conner is a trusted Realtor serving Aurora and the surrounding Colorado communities, with a special focus on Seniors 55+ and Move-Up Buyers navigating life’s next chapter. With years of exp....
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