Now is an excellent time to consider buying a new home.
Interest rates are back down near historical lows and new listings are starting to increase ahead of the spring market. However, there are also some challenges confronting potential home buyers right now.
- Despite more listings hitting the market, inventory continues to be very low.
- If you find a home you like, you have to act fast.
- You need a strong offer.
For current homeowners, this creates several obstacles to overcome.
- Most homeowners are dependent on using the equity built up in their existing home to afford a new home and mortgage.
- If they make an offer to buy a new home it is usually contingent on the sale of their current one – and that introduces a lot of uncertainty into the transaction.
- This can also lead to stress and rushed decisions, as homeowners try to find the right home and sell their current one simultaneously.
With our new 8z Bridge program, that’s a thing of the past.
Now you can buy and move into your new home first, and sell your existing property after. How does this work?
- When you find a home you love, through 8z Bridge we make a cash offer on the home for you. Cash is still king when it comes to buying a home, as cash offers with proof of funds face fewer stumbling blocks and are more likely to close.
- Consequently, cash offers are twice as likely to be accepted as financed offers and can even command a lower price.
- Once the purchase is made, you rent your new home from 8z Bridge until you sell your existing home – without the financial risk of two mortgages. This provides an opportunity to secure your next home now, then take your time preparing and selling your current home for full market value!
8z Bridge is already empowering our clients.
Here’s a recent story from an 8z agent:
“I have clients who have a new baby and two dogs over the age of 12. They wanted a quick, no hassle sale and so decided to accept a cash offer from an iBuyer. Using that leverage, I was able to get them under contract on a new home they loved.
Unfortunately, the deal with the iBuyer fell apart due to an inspection issue with their existing home. They were devastated at the possibility of losing their dream home. Fortunately, 8z had just rolled out the 8z Bridge program, so I immediately sat down with them to offer up the solution…shortly thereafter, we got the wheels in motion and I’m happy to say, we’ll now be closing on their new home using an 8z Bridge cash offer.
Now I’ll be able to list their home traditionally and undoubtedly net them more money than the iBuyer route. It is a win-win all around.”
If you’re interested in learning more about 8z Bridge, I’d be happy to provide more information.
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A Refreshing Look at the Question “What is my House Worth?”
Let’s take a look at some of the stats for our area to get a better idea of what is going on in the local housing market!
In El Paso County for January 2020, the average sales price* was:
- $334,000 for Single Family Homes (up by 11.33% from 1 year ago)
- $252,500 for Condos/Townhomes (up by 11.5% from 1 year ago)
I have access to detailed stats across Colorado and can help you find out the worth of your property any time. I can also help you determine what your home is worth even if it’s in a different area. As always, I am here for you. If it’s time for you to buy or sell, let’s talk.
*Median sales price based on a six-month moving average