Real Estate Tip of the Day January 4, 2014
Don’t wait to sell your home.
Are you trying to time the Real Estate Market in hopes of higher returns? Trying to time the Real Estate Market is never a good thing when you hope to be on the high end of a sales price. Prices have appreciated which has been welcoming news for home sellers here in South Florida and nationwide for that matter. With this in mind, when somebody asks me if it’s a good time to sell a home, I’d say, “absolutely”!
We’re seeing that Mortgage rates are rising, yet rates are still low when you consider other recorded times in history. When buying a home, home Buyers hate the thought of rising interest rates, however, remember that our rates are still low when you think of much, much higher rates of years past. Yet, any rise in mortgage rates will weaken the pool of Buyers and lessen Buyer demands for homes to buy. Some will be priced out of the market or will not be able to buy the home they dreamed of so, some may step out until they’re able to make their home purchase and others will simply adjust their original purchase plans. This weakening Buyer demand can slow a rise in home selling prices, compared to what has been prevalent in 2013 with faster rising home prices. If you’re a Buyer in the market for a home faced with rising interest rates, you’ll also want to be sure to get informed on what to expect when getting a home mortgage in 2014.
Don’t suffer from the shoulda, woulda, coulda, if only, syndrome when looking back having missed favorable price appreciation because you decided you would time the Real Estate Market until it was just right to jump in when you waited to put your home up for sale.
Probably one of the most frequently asked questions that I receive from homeowners considering selling their home is should I sell my home now? If you want to sell a home to move to find a smaller home, a larger home or due to an out of state relocation and you have some equity in your home, the time is right to sell a home so, don’t delay.
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