Triangle Property Lines: #1 Reason to Sell Your Home Now

Tuesday, January 13, 2015

#1 Reason to Sell Your Home Now

#1 REASON TO SELL YOUR HOME NOW

If you are one of the many homeowners out there who are debating putting their home on the market in 2015, don’t miss out on the opportunity that currently exists. There is significantly less competition in the winter months than in the spring.

According to the National Housing Survey released by Fannie Mae, only 45% of homeowners “say mortgage rates will go up in the next 12 months.”

What Does This Mean?

Homeowners may be unaware that interest rates are projected to go up by all four major reporting institutions (The Mortgage Bankers Association, the National Association of Realtors, Fannie Mae and Freddie Mac ). This is big news for move-up buyers reflecting the overall amount of housing inventory that will be on the market.

If existing homeowners believe that mortgage interest rates are not going to increase, then they won’t be inclined to make a move by putting their home up for sale, meaning less competition for sellers who list now.

Don’t Wait!

The study also revealed that:

“Those who say it is a good time to buy a house rose to 68%” and “the share of respondents who think it would be difficult to get a home mortgage today decreased by 3 percentage points.”

As Doug Duncan, senior vice president and chief economist at Fannie Mae explains:

“We expect consumer attitudes toward housing to improve as the pickup in the overall economy lifts employment and income prospects.“

Bottom Line

I have qualified buyers RIGHT NOW who are ready to make a move. If your goal this year is to move up to your dream home, or right-size to fit your family’s needs, what are you waiting for?

Elizabeth Scott, Realtor®, Broker