Spring is in full force; the summer months are right around the corner. If you are debating moving up to your dream home, here are four great reasons to consider listing your current home and moving up to your dream home now, instead of waiting.
1. Buyer Demand is High & Inventory is Low
Recent numbers show that buyer demand is at the highest peak experienced in years, and inventory for sale is at a 4.5-month supply, which is still markedly lower than the 6 months needed for a historically normal market.
Demand in many markets is far exceeding the supply, and more properties in Marchsold in less than 30 days(42%) than in any month since last July.
Listing your home today can greatly increase exposure to buyers who are out in force and ready to act.
2. Prices Will Continue to Rise
CoreLogicrecently released their latestHome Price Indexin which they predict that national home values will appreciate by 5.3% by this time next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting for your current home’s value to increase before selling could price you out of your new home if you aren’t careful.
3. Mortgage Interest Rates Are Still Near Record Lows
Interest rates have remained below 4% for some time now and are substantially lower than the rate previous generations paid when getting a mortgage.
TheMortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtorsare in unison projecting that rates will rise over the next 12 months.
An increase in rates will impact YOUR monthly mortgage payment. Even an increase of half a percentage point can put a dent in your family’s net worth. Whether you are moving up or buying your first home, your housing expense will be more a year from now if a mortgage is necessary to purchase your home.
4. It’s Time to Move On with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide whether it is worth waiting. Have you always wanted to live in a certain neighborhood? Would a climate change be just what the doctor ordered? Would you like to be closer to your family?
If the right thing for you and your family is to move up to the home of your dreams this year, buying sooner rather than later could lead to substantial savings.
Author:Kriste Simmons Phone: 931-561-1103 Dated: May 9th 2016 Views: 113 About Kriste: I am a licensed Real Estate Agent in TN, and KY with Reliant Realty ERA Powered. I have over 18 yea...
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About Kriste Simmons & The Simmons Team of Reliant Realty ERA Powered -931-245-8800
Thank you for choosing The Simmons Team for your real estate needs! We make it our mission to provide you with top of the line services in any type of situation. We specialize in the Clarksville, Montgomery County, Fort Campbell and Hopkinsville areas, but will gladly help you with surrounding areas as well. Our local expertise and wide variety of Real Estate knowledge will benefit you whether you are buying or selling for the first or the tenth time.
First Time Home Buyers, For Buyers, Generation X, Millennial, Move-Up
"Kristie was truly amazing. It was great working with her with the ease of being able to start my home search before I even got out of the military and in a different state. Before me and my wife were even in the area we knew which area we wanted to be in and had lowered the amount of houses to look at to about 4 or 5. This was all due to Kristie and her hard work of putting the customer first and putting in the time to understand her customers. She is very knowledgeable in the realty business and will drop anything she is doing to lend a hand even after our purchase she is still very helpful. I HIGHLY RECOMMEND Kristie to anyone in need of a realtor that is ready to sell you your forever home. Thank you Kristie!"