The next thing to do is see what your home is worth. This can be a mind altering experience. Everyone wants their home to be worth a million and believe me when I say that as a realtor I want to sell it for a million however the truth is your once $200,000 home may only be worth $170,000. Ugh!… Sorry…. I know you didn’t want to hear that. However know you have a real number to work with when you visit the lender. Whoa! Hold on! I am not visiting a lender until I sell my home. Wait a minute! Who said sell your home? Remember we are trying to see if we should sell your home. Now that you know about what your home will sell for it is time to see if you can afford to buy your new home or not. It is nice to believe that anyone who wants a loan can still get one however with all that is going on now more than ever you need a really good lender who can still get you a loan. Many of us have surprises that show up on our credit reports that we have forgotten about because it is only a couple years ago that whatever has happened to mar our credit. In this market it may mean no loan. Several buyers have gotten to the closing table only to learn there is no loan. Now that is not happening as often however many of us find getting a loan is harder and we may need to clean up a few things prior to getting a loan. This is why you speak with a good lender. Once you know how much you can sell for and that you can get a loan the next step is to determine if you can find the home you want for the price you are willing to pay. If the answer is yes it is now time to sell your home.
Tags: Boise real estate, first time home buyers, Foreclosure, housing prices, Hud Homes, Idaho Real Estate, Meridian real estate, rent or buy, Rich Nesbit, weather
