Should you wait to sell your home? Do you have to sell?

This is a question that is asked frequently.

Should I sell my home?

There is not a simple answer to this question and the answer would depend on why you are considering a move.

• Are you moving to a new job?
• Have you outgrown your current home?
• Are you selling for financial reason?

If your desire to sell is to move closer to a new job: I would recommend, for those who are financially able to do so, renting your current property. I would also recommend that you also rent rather than buy in a location close to your new job. RENT? yes, rent. Jobs are not as stable as they once were and you may not like something about your new job, the location or ??. If you rent your existing home, it would be an easier transition if you decide to return. Once you have settled into your new job and the area, then start your search for a new home. Attempting to find a home in the process of relocating to a new job proves too stressful for most.

Outgrown your current home?: The first step in this situation would be to define your current and future needs. If the answer is adding another bedroom because you love your home, the neighborhood etc., start by obtaining a few bids for an addition. Only after weighing the cost of an addition compared to homes that will meet your current and future needs would I recommend the search for a new home. Something that most do not consider in this situation is the increased tax basis for a new home. If you purchased 3 or more years ago, chances are that your current tax basis will be substantially lower on your existing home. Even with an increased tax basis because of an addition, you could still end up ahead of the game staying right where you are. If, After evaluating your situation, you find that a new home will be the best alternative, I would recommend completing the sale of our current home before searching for a replacement. Sure, you may be inconvenienced for a month or two but, searching for a new home with a clear mind and checkbook in hand will usually result in finding a better home, at a better price than when pressured to close concurrently on 2 homes and with a contingency. Most homeowners and agents put much less value on an offer that is contingent on the sale of another property. Keep in mind that when selling now, you may end up getting less for your home than 10-18 months ago but, you should be paying less for your replacement home too!

Selling for Financial Reasons?: This is the most difficult situation. If the need to sell arises because of the type of loan you have, I understand you predicament. There are many in this situation so, don't beat yourself up over it. There have been many good people coerced into horrible loans. The first step would be to thoroughly evaluate your current loan and the realistic market value of your home. I would not recommend that your lender assist in evaluating either. Instead, find an experienced Realtor in your area to help. If you find that your are in a position that you can not afford your current payments and the balance of your mortgage exceeds the market value, you may be able to contact your lender and explore the possibility of a short sale. Again, I would seek the assistance of an experienced, local Realtor when considering a short sale. If that doesnt work or, If you must move because of other financial changes, you will either have to find a way to make ends meet, develop a marketing plan with local professional or, walk away. You are not alone if found with no other option. Consult with an experienced Realtor, your tax advisor and an Attorney if left with no other options available. There are possible tax consequences that may effect you.

BY: Mission Grove Realty, Realtors

Hemet Real Estate Remains an Excellent Value. Here's Why:

5 reasons why the time to buy real estate in Hemet could be now:

Nestled in the Valley below the majestic San Jacinto Mountains, Hemet is a centrally located Southern California Community within a short drive to Orange and Los Angeles Counties, San Diego, Palm Springs and the mountain resort community of Idyllwild. Rich in history, Hemet is located in south west Riverside County, California. The Valleys recent growth makes it an excellent city to invest in your first home, move up to an affordable dream home or invest for the future. We welcome you to visit our beautiful community and see why Hemet represents of the best values in California real estate.

• Supply - The supply of affordable homes in Hemet continues to rise and makes it an excellent time to find the right home...at the right price. New home builders are offering unprecedented concessions that make new homes an option to consider. Resale homes offer the opportunity to find just the home you want in an established community.
• Interest Rates - Rates, still at all time lows, make buying your first home, investment property or the home of your dreams a reality.
• Jobs - South west Riverside County's growth has made local jobs very attractive. Employment opportunities include Medicine, Construction, Logistics, Technology, Education and various opportunities in the restaurant and retail industries. San Jacinto is an excellent place to live and work. Why commute when you can live and work in the same community?
• Investment - Affordable pricing, low interest rates and a booming local economy, Hemet has all of the ingredients to sustain growth and will offer long lasting value and appeal that will surely continue for many years.
• Location - Centrally located with easy access to the I10 corridor, I15 and 215 freeways, Hemet is an excellent community for those that still wish to continue a job just about anywhere in Southern California and live in a home well beyond what is available, in the same price range, in other nearby communities.

Bottom line: Hemet should be on your list when considering property in Southern California and the time to start looking is now.

Mission Grove Realty Hemet, California