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You are here: Home / Real Estate / Now’s the Time to Move On Up to Your Dream Home

Now’s the Time to Move On Up to Your Dream Home

September 28, 2014 by Jason Farris Leave a Comment

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Is it time to sell your home and move up?

If you’ve been wanting to trade up to a newer, better or bigger home, now may be the perfect time to make the move. The force is with you. Home prices are rebounding and equity is returning to Fresno and Clovis homeowners. You’ll get more for your current home than you would have a few years ago yet prices are not out of control so you will be able to afford more too.

Maybe you want to live in a nicer neighborhood, in a home that’s closer to your workplace or in a city with better schools. You don’t need to own a dry cleaning business like George Jefferson, and you certainly don’t need to hire a crazy housekeeper to enjoy the perks of the good life. There are so many reasons to move up, and now is the perfect time.

First one to identify who this is wins a t-shirt! mike@areweconnected.com
It can be a real juggling act

Things to Think About
Being a move-up buyer comes with some unique circumstances. Thinking about your situation and how you want to handle the process are vital to ensuring a smooth transition. If your current home sells too quickly or you can’t find a buyer, you could face two sets of problems. On the one hand, if the home sells quickly, you might be forced to move into a temporary residence until you can find your dream home. On the other hand, you might be left with two monthly mortgage payments if you can’t sell your current home.

To avoid either of these situations, your real estate agent can work with you to create some contingencies. Contingency contracts work in several ways, but the goal is always to give you the time that you need to settle everything before you move. Three types of contingency contracts can make a move-up easier.

1. As a seller, you have the option to make the sale contingent upon purchasing your new home. This way you know how much your home will fetch at market, so you can establish a more accurate budget. You’ll also have time to find your dream home without being rushed.

2. You can request a rent-back option from the prospective buyer. By paying rent to the new owners, you’ll be able to stay in your former home for a negotiated set of days to look for a new place after the sale is final.

3. As a buyer, you can make an offer to the seller that’s contingent on the sale of your current home. This strategy is most effective for properties that have been on the market for a few weeks. However a strong offer on a newly listed home may entice the sellers to accept a contingent offer.

Above all, be a flexible buyer. To make your offer more attractive, consider paying the seller more or offering the seller a rent-back option. You can also pre-negotiate home inspection items and repairs to make the process easier for both parties.

Being a move-up buyer is only a little more complicated than being a first-time buyer. Looking at homes that are currently available is a great way to get a feel for the market. Just try not to fall in love if you aren’t prepared to sell. Once the process gets going, things can move faster than you expect.

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Jason Farris
Jason Farris
Head YES man at FresYes.com
I grew up in Fresno. Relaxed in its calm breezes, listened with my dad to the crack of the bat at little league baseball games when I was a kid and now take my son to do the same at minor league games. I broadened my mind at its schools (I went to high school right here at San Joaquin Memorial, and to college at Fresno State!) I love that if I drive for two hours in one direction, I can be in the mountains. For two hours in another, luxuriating on a California beach. I can enjoy the cosmopolitan atmosphere of San Francisco or Los Angeles, but still be able to come home to relaxation, calm, and quiet.

I love where I live, and I also love what I do. I'm lucky to be able to work in a profession in which I get to build relationships; one that has me meeting new people each and every day and helping them to build new lives in my beloved city. I'm lucky enough to work in a profession in which I can marry cutting-edge technologies and marketing techniques to good, old-fashioned, nose-to-the-grindstone work. I am lucky enough to work in a profession that allows me to work as an advocate for my clients; to use every tool at my disposal to get a job done well for them, and with as little stress and expense as possible.

I love my city. I love my job. One inspires my excellence for the other.

Fresno? I say FresYES
Jason Farris
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Fresyes.com was started by me, Jason Farris. Yes, I'm in real estate. I think that real estate is so much more than buying and selling homes. It's all about the lifestyle, it's about community. Here in the Fresno / Clovis area we have such a wonderful sense of community. I wanted a place that best reflects the people, the places and the lifestyle that we call home. Fresyes.com is that place. We have fabulous authors who share what makes this community of ours so special. I also write here, and not always about real estate. You can find all my posts HERE

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