You have equity in your home. You have motivation. You want to find a new home because you are ready to buy a home with that pool, or a single story, or you want another feature that your current home doesn’t have. Yet, you are unsure where to go next. You are also aware that while your home value may be higher than before, many of the homes you want to move into are also higher in price. Many people here in Ventura County are in this position. The fact they don’t know is…..
The housing market in your particular market is key to discovering how you can plan your selling and buying strategy. An important question to ask is; are you in a buyer’s market or seller’s market? The answer will depend on a few important factors, and you may be surprised to know that within one city there can be multiple markets overlapping which can work in your favor. For example, if you are selling at one price point but buying at another price point each market at the different price point may be selling faster or slower. This can allow you to negotiate more to get what you want. In other words, you may be able to sell your home in a seller’s market to get top dollar, and you may be able to buy in a buyer’s market in the same city and negotiate a great value on your new/dream home allowing you to take advantage of the higher home values right now. Specifically this trend of multiple markets overlapping can be seen in Camarillo and other locations in Ventura County.
The website NOLO published the following article about some strategies that may help you sell your home and buy a new one. Please contact me if you would like to discuss this further.