Should I Sell In This Market
First things first, it's never a buyers and sellers market at the same time, so what you really have to consider is if it's the right time for you based on your current situation. Every day we are bombarded with tons of housing information that can easily sway your judgment from one day to the next. The end result can mean we don't know what to do and so we do nothing.
We are currently we are in a buyer's market which by name itself suggests that it's not a good time for sellers. I would say that depends on the seller's situation. If you are thinking about upgrading to a bigger home this may be the perfect time.
Consider this, let's say home values have dropped 10% (easy number, just an example) and so a home that was worth $300,000 is now worth $270,000, a difference of $30,000.
Now your new dream home was worth $500,000 a few years ago. That same 10% loss of market value makes that home now worth $450,000, a difference of $50,000.
It's easy to see if you are selling a little lower you could easily come out ahead on your purchase because you are getting more bang for your buck and actually coming out ahead overall.
Just to top it off mortgage rates are fantastically low and there are lots of homes to choose from. Despite what you may think, lenders are still giving out loans; in fact our lenders say they have lots of money to borrow. These days you just have to qualify the old fashioned way, proof of employment, good credit scores etc.
If you want to dig deeper and find out what your current home is worth, just contact us, we'll be happy to help.
We hope you found this article valuable!
Our Best To You Always,
Nicole & Tony
Visit us online: www.Wheatland-Realty.com
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