As we approach the warmer Spring weather, a lot of people see signs going up in the neighborhood and wonder if it might be a good time to sell.
Since the real estate recession, we have seen a large increase in property values throughout Jacksonville. Depending upon when you purchased your home and how much your home is worth today, will help you decide if it’s the right time to sell. Sometimes sellers find out that they don’t have enough equity (the difference between what your home is worth and how much you owe on your mortgage) in their homes to sell. So what do you do when that happens?
I usually have two or three sellers a year that fall into that category. Since we do property management as well as home sales, we can give the sellers an idea of what they can expect to receive in rental income if we were to rent their current home. If we can offset the amount of the mortgage payment with rental income, some homeowners are willing to speak to a mortgage broker to see if they would qualify for the current home and purchasing a new home.
If this sounds like an idea you’d like to explore, give me a call at 904-834-9770.