San Ramon Equity Sales: How Much Equity is in your San Ramon Home? Find Out Now.
Have you heard the new real estate buzz term? We want to offer some clarification on the term Equity Sales. It’s a good thing.
Webster Dictionary defines the word equity as:” the money value of a property or of an interest in a property in excess of claims or liens against it “
Equity is a positive difference between the current fair market value and any outstanding Mortgage Loans, Lines of Credit, or other Liens associated with the property. Equity = Assets – Debts. Another definition of an equity sale as one in which the seller has sufficient equity in their property to negotiate in good faith, satisfy all financial obligations and convey clear title without the assistance of their lender or third party approval. It is also a situation where the seller can be willing to bring money to close on the transaction.
It indicates that a Homeowner or Investor has equity in a property and is NOT underwater. In a sale there will be a positive net to the Seller after the sale.
Since 2007, normal sales seemed to be rare in many communities. Many would-be home sellers were collectively in standby mode, reeling from the shock of property value losses and were holding on as best they could, many trying to avoid having to short sell, or be foreclosed on in many cases. We are finding that the worst may be over. Folks are peeking out from behind the curtains wondering if they dare hope to be able to sell their homes and come out ahead. And we have great news for those hesitant sellers!
Things in the San Ramon Valley Real Estate world have begun to thaw out and move forward. We have very little inventory to satisfy a huge surge in demand for homes here, driven by Bishop Ranch employers, our excellent school district, and enviable way of life. There are multiple offers on nearly every home that comes on the market in our area, which is causing prices to creep up.
So if you have been waiting to sell your home and are wondering if it’s safe to go back in the water, the answer is a resounding YES! Buyers are lining up hoping to purchase in our area, and are shocked to find themselves in a bidding competition for nearly every listing. Homes for sale are going on and off the market in a matter of days, not weeks. And because of this turn in the tide, the “new normal” in San Ramon Estate is gravitating towards regular sales or “equity sales”.
There are distinct advantages for both buyers and sellers in these transactions. Buyers of Equity Sales (or regular sale) properties benefit because these listings are usually in better or move-in condition as compared to the homes that are lender-owned. For the seller – you can actually come out of the transaction with positive cash in your pocket. So if you are curious about whether this is the right time to sell your home, let’s talk about it! Call, text, or email us. We are happy to have a discussion and start the process!
Thinking about selling San Ramon real estate? Wondering how much Equity Sales in your home? Find your home value now!