Wendy Carson - Putting that little 'extra' in extraordinary service!

Searching Properties
Please Wait

Why You Should Not Wait To Sell

June 17, 2013 |  Article By :   | 

mortgage rateHousing prices are on the rise and are expected to continue rising so you should wait to sell your home? Wrong! In most cases, when you sell your home, you are going to be buying a new home. Yes, the price of your home will be higher in a couple years and the price of the new home will also be higher but what many sellers aren’t thinking about is the interest rate. Most forecasters say that the interest rate has already bottomed out and will be on the rise. What does this have to do with selling your home now or down the road when it may be worth more? The loan on your new home will cost you more because of the higher interest rates. Currently mortgage interest rates are 3-4% but in a couple years they are forecast to be 5-6% and on a 30 year mortgage for a $300,000 home, that adds up to a lot of extra costs in mortgage payments, thus making the home more expensive. Right now it is a seller’s market making it a great time to sell a home, you can find a home to buy and still get in on super low interest rates. Don’t wait – sell your home soon!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.