Should I Sell My House Now? Absolutely
According to Steve Harney of Keeping Current Matters, there are five reasons why you should sell your house now.
- Interest Rates Are On The Rise
Interest rates are now over 5% for the first time since last spring. While an increase may force buyers off the fence it can also eat into their purchasing power. The mortgage amount a buyer qualifies for decreases as rates increase.
2. You Dream Home Will Never Be Cheaper
If you sell your house now you can take advantage of the fabulous selection of properties currently available to buy the house of your dreams. COST should be more important than PRICE. COST can be dramatically impacted by rising mortgage interest rates.
3. Buyers Are Out Early
Buyers are out earlier this year with the belief that now is a good time to buy coupled with the increase in interest rates. In January alone, Trulia has seen more than 70 percent year-over-year growth in buyer and seller activity.
4. Inventory Increases Every Spring
Typically inventory increases as we approach spring and it is believed that these numbers will increase in 2011 because of the pent-up selling demand created by the weak market over the last few years. With increased inventory there will be increased competition.
5. We Are In The Eye of The Foreclosure Storm
The large supply of discounted properties (The Shadow Market) will be released sometime in the next few months. These discounted properties will be competing with your house for buyers in the marketplace. The reasons for selling now are compelling.
Please call Susan Lyman of Pinnacle Residential Properties to discuss your best options for selling in the Wellesley, Needham, Dover, Weston, and Natick market.
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