Some people are trying to make the decision whether this is the proper time to sell their home. The following are a few questions and answers that may help you with this decision:
Should I Sell - Thinking about selling your home now or waiting until after mortgage rates come down. Currently mortgage rates are forecast to reduce but waiting may cause you to deal with greater competition as other buyers may be getting back into the market. This means that you may have to deal with rising prices and multiple offers when moving forward.
Buyers – There are buyers out there willing to buy. Some potential buyers are holding off while others are moving forward. Buyers tend to be most active from March through August. Recently higher interest rates, lack of available houses and people’s uncertainty have slowed down buying somewhat. Nationally there is a housing market out there which means houses are selling and will improve in the near future.
Affording to buy new home – If you are worried whether you can afford to move into a new home, evaluate how much equity you have in your current home, current interest rates and the prices of homes you desire. In the past years homeowners have gained a large amount of equity, and this makes a difference what you can afford to buy. With the appreciation that you have received in the past few years you may not need to finance your new home.
Conclusion – If you review the above concerns, you are like many other people who are on the fence. Also remember there are many other sellers who have decided to take the plunge and some of those sellers wished they had sold sooner.
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