Don't Wait until Spring to buy or Sell...
As you think about the year ahead, how do you know when to make your real estate move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to buy or sell. Here’s why.
1. Take Advantage of Lower Mortgage Rates
Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That downward trend in rates has made moving more affordable now than it was just a few months ago.
Another reason today’s rates make now a good time to sell? More buyers are jumping back into the market. Many had been waiting on the sidelines for rates to fall, but now that that’s happening, they’re getting back in the market.
2. Get Ahead of Your Competition
Right now, there are still more people looking to buy a home than there are houses for sale, which puts you in a great position. But keep in mind, with the recent uptick in new listings, we’re seeing more sellers may already be re-entering the market.
If you are selling, Listing your house now helps you beat your competition and makes sure your house will stand out.
3. Make the Most of Rising Home Prices
Experts forecast home prices will keep going up this year. What does that mean for you? If you’re ready to sell your current house and plan to buy another one, it may be a good idea to think about moving now before prices go up more. That would give you the chance to buy your next home before it gets more expensive.
4. Leverage Your Equity
Homeowners today have tremendous amounts of equity. In fact, recent report from CoreLogic says the average homeowner with a mortgage has more than $300,000 in equity.
If you’ve been waiting to sell because you were worried about home affordability, know your equity can really help with your next move. It might even cover a big part, or maybe all, of the down payment for your next home.
Bottom Line
If you are buying or selling, please connect with me today and get the process started now so you can get a leg up on your competition. "Don't wish you had, but be glad you did!".