Switzer Sooner Living’s March Newsletter |
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Hello Friends and Clients! |
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Well 2023 is well underway with March right here! The real estate market has changed since last year. Years 2021 and 2022 were years of unprecedented home price increases and they were a mega seller’s market. It literally was a “hair on fire” time for realtors and clients. We are now entering a more balanced market. While higher than normal appreciation still makes it a great time to sell and capture your equity, buyers aren’t having to overpay just to find a home! For those thinking of selling, lets do it before the market continues to swing into a buyer’s market predicted this summer! Call me for a free comparative market analysis for your home today! 580-421-1075 If you want to buy a new home, let’s get you prequalified and ready to find the home of your dreams! |
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Buying and Selling a Home at the Same Time? Here’s What You Need to Know |
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If you currently own a home and want to buy a new property, the chances are you’re going to have to navigate selling your current home and buying your new home at the same time. But what, exactly, does that look like? What do you need to know to successfully buy and sell property simultaneously? You probably have money to work with. If you’ve owned your home for more than a few years, there’s a solid chance that you’ve gained equity in the property. That equity can help to fund your new home purchase—either by acting as a down payment to pair with your new mortgage or, if you’re downsizing and have a lot of equity, to help you come in with an all-cash offer on your new property.
The market is less competitive—which means sellers may be willing to work with you. When compared to the past few years, the real estate market has cooled off quite a bit. There’s less competition, and less competition means that sellers may be more open to accepting an offer that’s contingent on the sale of your current home, which many sellers wouldn’t even consider in a hyper-competitive market.
It’s important to understand the pros and cons of selling first vs. buying first. One of the biggest decisions to make is whether you should sell your current home, or buy your new home first. Before you make that decision, it’s important to understand the potential drawbacks of each. For example, if you sell first, you have an absolute deadline to move out—and if you haven’t purchased a home by that date, you may need to put your belongings in storage and look for temporary housing until you find your next property. On the flip side, buying first can put pressure on you to sell your home quickly, which could lead to you selling your current home for a less-than-ideal price. If you’re unsure whether to buy or sell first, talk to your real estate agent; they can help you weigh the pros and cons and make the right decision for you and your specific situation.
The Inner Circle-Lighter Side |
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Leslie Switzer is the BEST realtor we have ever dealt with. Her personal care for us was incredible. She is extremely knowledgeable about the market and always points you in the right direction. Her candor and authenticity make the experience a joy. She located two homes for us and sold one.The two homes she located for us to tour, we never saw online and they BOTH ended up being perfect for our family. WE HIGHLY RECOMMEND HER!! Josh and Erica |
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