One of the questions we always get asked is, “Should I wait to sell?”
Sellers, we are experiencing extremely low interest rates right now. Currently, interest rates are under 4%. What that means for you as a seller is that more buyers can actually qualify to purchase your home. As interest rates start to go up, the number of buyers that can qualify for your home will actually start to go down.
Also, home prices are anticipated to go up too, according to experts at Fannie Mae and Freddie Mac, as well as many others. So that’s a positive sign for a buyer. And remember, if you’re thinking about waiting to sell, and you’re also planning to buy, as your house increases in value, so does the other house that you want to purchase, so it counteracts itself. And with interest rates being so low, you don’t want to risk them going up. That will cause the mortgage payment on your new house to go up too.
Also, according to the chief economist, Danielle Hale, at realtor.com, as interest rates are going down, that’s actually counteracting home prices going up. Which means that buyers can still qualify to purchase. So what does this mean for you if you’re thinking about selling? It means it’s time to act now. So give us a call at the BrennerHill team, and we will analyze and assess your unique situation and help you make the best decision for your family. And as always, make it an awesome home buying and home selling day!
