I want to buy a Metro Detroit home but I have one to sell

If you live in Southeastern Michigan and have Metro Detroit real estate to sell my advice is:

Don’t buy a home until you sell your home.

Metro Detroit Homes are taking 6 months to a year and a half to sell.  Can you afford to have two mortgage payments for a year and a half?  What would that do to your financial picture?  Most families can not afford to do that.  You then get yourself into a bind of “having to sell for a certain price”.

It is smarter to sell your Metro Detroit real estate first no matter if it is a Canton Home, a Redford home, or a Farmington home.  It is same throughout the Metro Detroit area home prices are continuing to fall and there is excess inventory.

Look at some of my past market reports.

 

If you are thinking of buying a home my expert opinion would be to sell your Metro Detroit Home first.  There are plenty of homes to buy.  You may even consider doing temporary housing or living with relatives while searching.  Another option is to get an extended closing date of 2 -3  months so you have plenty of time to look and close on your new Metro Detroit dream home.

For more sellers tips or to get a value on your home email me at info@RussRavary.com

 

Here is my quote of the day:

To accomplish great things, we must not only act, but also dream; not only plan, but also believe.

Anatole France

 

 

 

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Posted in Blog, Buyer Tips, Seller Tips

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