Rising house prices have caused more and more homeowners to wonder whether it is the right time to take the appreciation or profit in their current homes and get out before the market starts to cool or fall apart. The election had a lot of people concerned. There is no certain way to know when the housing market is at its top. There are indicators like is it cheaper to rent or to build a new house or where are mortgage rates going. The rising prices in the housing market that we have seen lately has some worrying the boom and bust and recovery cycle that started around 2005 to now has a lot of similarities. Is it time to sell the house with today’s rising house prices?
Is it a good time to sell your home? Is this the opportunity for which you have been patiently waiting? I think it is safe to say mortgage rates cannot go much lower or stay low much longer. Banks are loaning money. In most markets houses prices are up, but not back to the pre-crash rates. In some markets builders are doing well building new homes.
The rise in housing prices in recent two years have left many homeowners, especially those living in hot markets, with tens of thousands, or even hundreds of thousands of dollars in potential profits. The idea to take advantage of the home and make even a small profit, while hoping that the market will cool with the intention of then finding some bargains later is a big bet for some homeowners. Real estate investors look at the market and buy deals. Unless you're "house flipping", wanting to move, moving to a bigger or smaller mortgage, benefiting from a low rate mortgage, or have a specific reason for wanting to move, then you may want to stay where you are.
However, the move to sell now and make a profit is perhaps the least risky proposition for those owners looking to downsize their lifestyle or who are close to retirement, need some cash, or are moving to a less expensive area. One example of this is moving from the city of New York, to a less expensive area, such as Atlanta market. Another is moving from a five bedroom home, now that the children are gone, to a new three bedroom house with half the mortgage.
The real estate market has a cyclical trend of ups and downs. To withdraw money now so you can buy again in a few months or new trends settle is similar to stock market trading. It is not a good idea to speculate for many people, since they are not dealing with just money but their home with real value and maybe their biggest asset of all.
For many buyers who may be looking for a downsize or a mortgage reduction, cash out, another home, a bigger home, a newer home, a different neighborhood, move to another city, move closer to a job, move close to parents or children, there is no time like the present to take action.
How many of us have said over the years I wish I would have bought a house back a few years ago. In five years we do not want to say or think I wish I would have taken some action. There is no time like the present to buy or sell a house. Low interest rates, moderate prices, good mortgage availability, and many houses to pick from give us a lot of options. If you sell your house now, you can in all likelihood, upgrade in one or more ways.
One of the key challenges in a hot market, even for homeowners with substantial profits, is to find a suitable property at an affordable price that you love as much as the one you just left. Many owners have found that buying a smaller home is a good way to gain from the home they sold that appreciated. Another way to gain is moving to a less expensive housing market. There are plenty of markets that remain and have affordable housing all across the country. People moving to these areas are often very surprised by how far their dollars can go and how much house they can buy.
For the skeptics in the group, there is always the rental market. In many markets, the appreciation of the rental price has not kept pace with rising housing prices. Many older homeowners are opting for rent for a year or two while waiting for housing prices to stabilize. This can certainly be another good strategy, and can leave the discerning homeowners with much more house for your money in the long run when they do buy a house.
Whatever your situation or belief is about today’s market, it is changing. Prices are rising. Mortgage rates are low, and there are bargains and deals to be purchased if you are looking for a house. We buy all types of houses fast for cash or terms in the metro area. Have a house to sell or just what to know how much your house is worth to a cash buyer? We are real estate house buyers. We have over a decade of house buying and selling experience. We have a no obligation, no stress, no hassle, simple process. We will make you a fair offer on your house. We have over 100 documented referrals.
Now is a good time to see what your house is worth in 2017. Just go online or call us or another company with experience. Do not let yourself be the homeowner who says in just a few years, I wish I would have taken some action back in early 2017.
This is a almost an exact copy of my post in 2016. What differences have taken place? What may affect my or your decision to make a move? The election is over. Now is it time to move? The economy has improved. Is it time to move? Many new trends have come and gone. Is it time to move?
Thanks for your time.