Upside Down Equity Home Sale
Candace Cantu McGloin

Are you ready to sell your home?

Sell House Redlands Candace Cantu McGloin
5 Signs You’re Ready to Sell

Have you started looking online to see how much your home is worth?

Are you toying with the idea of moving to a different neighborhood?

Do holiday plans make you realize it may be time to move up or downsize?

If you’ve answered “yes” to any of these questions, you may be ready to sell your house. And, if that’s the case, the good news is that it is a seller’s market in Redlands, California, where I am based, as it is in many other parts of the country. Limited inventory continues to drive home prices up. And the latest data from the National Association of Realtors (NAR) shows that nearly half of recently sold properties were on the market for less than a month.Sell Redlands House

Of course, the decision to sell isn’t based solely on market conditions. Several factors come into play when considering whether to list your home. The following are a few suggestions for you to consider:

Is equity on your side?

For many homeowners, financial readiness boils down to equity. During the housing meltdown, millions of homeowners were faced with the overwhelming prospect of negative equity. Owing more than their homes were worth, these houses were “upside down.”

Selling a home that has negative equity is called a short sale.

Upside Down Equity Home Sale
Sell if you have negative equity only if you are relocating and have no choice but to sell or to forestall foreclosure proceedings. Breaking even on your home sale is an improvement but the best situation is listing your house once it has some equity. Since home values in Redlands and surrounding areas are on the rise, your house probably has some equity. To find out, call our office today for a free market evaluation. While it’s tempting to use online figures on websites to determine your home’s worth, these values are often inaccurate. We will be happy to run a Comparative Market Analysis (CMA) to come up with an accurate estimate. COMP for Home Sale

To determine the amount of equity to justify a sale, consider the 20%, which you could potentially use toward your new purchase. The reason 20% is the magic number is because putting 20 percent down on your new place will enable you to eliminate the necessity of carrying Private Mortgage Insurance (PMI). Eliminating that could save you hundreds of dollars per month and thousands over the life of your loan.

Are you out of debt?

Debt Home Sale
If your financial ducks are out of order, you may want to wait before listing your house. The reason for this is that one of the first steps mortgage lenders take after receiving your application is to assess your bank accounts. If you’ve paid off non-mortgage debt and have three to six months of expenses stashed in your emergency fund, you’re in good shape to move on. Otherwise, wait a bit until you have sufficient resources so you won’t have to sweat the application process.

Can you afford to buy a home that better suits your lifestyle?

Another factor to consider is how well your home meets your current needs. Could you use another bedroom or two? How about a home office? Or have your kids grown up and moved out? Do you live in three rooms of the house while the other eight go to waste?

Do you have cash in the bank?Cash on Hand for Home Sale

This is important not only for lenders but also so you can finance small improvements that could greatly increase your bottom line. Better to sell when you have a little cash on hand to put towards paint, flooring or to stage your home, so you can get the most bang for your buck, not to mention plenty of resources so you can fund your move.

Are You Emotionally Ready to Sell?

Open House Sell Redlands
If the numbers show you’re financially ready, consider whether you are emotionally ready for what can be an intense time. Before you plant a “For Sale” sign in your front yard, ask yourself just a few more questions:

  • Are you ready to put in the necessary work to prepare your home for house hunters?

  • Will you mind de-personalizing and de-cluttering?

  • Can you handle the ongoing upkeep necessary to keep your house ready to show?

  • Would you be okay moving out and leaving memories behind?

I would be happy to give you an idea of what it would be like to sell your house and might be able to help you assess whether now is the right time for you to list it and move on.

Queen of Sunset Hills Home Sales Redlands
About The “Queen of Sunset Hills” Real Estate Candace Cantu McGloin

Keller Williams Realtor Candace Cantu McGloin is qualified and willing to help home buyers and sellers across Southern California any season of the year. A long-time Redlands resident, she specializes in the cities of Redlands, Highland, Yucaipa, Grand Terrace, and Loma Linda but has done transactions both on the buying and selling side throughout Southern California. To learn more about real estate in Redlands or elsewhere in the Inland Empire, call Candace directly at (951) 201-2443.

Published by Candace Cantu McGloin

Candace Cantu McGloin is a 10-year real estate agent with the daily mission of finding her clients a home. Not a house. Not a place to live. A home, where the heart is. There are a million things that can occur in a transaction that can make the process stumble or pause, but with Candace’s years of real estate experience, new and returning clients have learned to expect smooth sailing. Candace and her husband, Eamonn, have owned vacation rental and investment properties throughout the Inland Empire, adding those experiences to your search for a home. She considers each transaction she enters as if she is personally buying them herself. Her ultimate goal is to hear her clients say, “Thank you, that was such a smooth transaction.” Candace’s philosophy is simple: clients come first. She pledges to be in constant communication with you, keeping you fully informed throughout the entire process. She believes that if you are not left with an amazing experience, she hasn’t done her job. Candace finds and sells anything from your future home to luxury transactions and investment properties. Returning clients have called her a dream maker and a house whisperer. Whether you are ready to buy your first home, upsize, downsize, invest or sell, Candace’s expert guidance will allow you to enjoy the process, knowing fully you are in good hands. Candace can get you to the home you want to have, whether it’s across countries or across the street. Contact her today for a complimentary meeting at 951-201-2443 or CandaceCantuMcGloin@gmail.com

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