If you’re thinking about selling your house, as the saying goes “timing is everything”. You’ve no doubt seen the housing market climb as buyer demand has driven home values increasingly higher. Selling your home at the right time is critical to ensure you balance getting the most out of the sale of your current home and can make the best investment possible if you need to buy a new one. Here are 4 reasons why NOW may be your best chance to do just that.
- The Number of Home on the Market is Still Low
There are more buyers in the market than there are homes available. That means that as a seller you have the upper hand. There are buyers just waiting for your house. Listing NOW puts your house in the spotlight and we have the knowledge and resources to help ensure your home sells quickly. Likely after receiving multiple offers, and potentially for more than you think.
- Your Equity has Grown Significantly
Real Estate experts agree that right NOW homeowners are enjoying record amounts of equity. An industry report from CoreLogic shows the average homeowner has gained $55,300 in equity over the past year. That’s a serious boost to your buying power. If you’ve been reluctant to sell because you’re worried about the rising prices impacting your search for a home, rest assured that your equity can be the difference maker. It may be enough to cover some or even all of your down payment. We can provide a comparative market analysis to show the true market value of your home, letting you know just how much equity you may have at your disposal.
- Mortgage Rates are Rising
While mortgage rates are already on the rise, they are still lower than they’ve been in recent decades. Over the last 30 years mortgage rates have gone as high as 8.12%; while the current average 30-year fixed mortgage rate is 5.375%. Even with global uncertainty, rates are expected to rise in the coming months. Fannie Mae executives have said they expect that borrowing costs will likely rise with the increase in mortgage rates. This means in the near future it will likely cost you more to purchase your next home. Acting NOW will help you get more for your money.
- Home Prices are Increasing Too
This takes us back to where we started. The imbalance in supply and demand is expected to continue in the near future and home prices will with it. But this doesn’t leave you out in the dark. If you’re considering selling to downsize, or even to move into your dream home NOW is the time to take advantage of your record equity and reasonable mortgage rates. And once you’ve purchased your new home, you can feel good knowing the expected home price appreciation is growing your investment.
It all boils down to this – If you want to sell your home, right now could be your best chance to maximize your opportunities. We have the knowledge, experience, and resources to help you take advantage of this incredible real estate market. Don’t wait another day, reach out NOW!