Arnold, Bruce & Doerfler Insurance Blog
Forecasts say that 2019 will be the best year to market houses. The CEO of House Buyers of America, Nick Ron, recommended gambling with the devil you’re familiar with rather than the ones you’re not. If your home was bought a few years ago and still enjoy the comfort it brings, you might wait for a couple of years before thinking of selling it. However, if you’re in between of selling it or not, don’t wait too long, consider marketing it now.
Here are a few bases to sell your home in 2019:
Buyers Remain Active
Buyer’s activity occasionally drops as the interest rates continue to rise because several buyers are hesitant in applying for a mortgage. Similarly, be ready and expect less customer interest if your home is in a high-end price range in the market. In recent months, buyer activity slowed down because both mortgage fees and home amounts rise, which exceeds the buyer’s budget.
Although your home stayed in the market for a few days, buyers are still entering the marketplace, so there’s a higher possibility of profiting from your house sale.
Lower Interest Rates
The interest rates on a mortgage are on a steep road for the past few months. Remember that mortgage rates derived from the current market, financial status, and property to purchase. Although the mortgage rates reflect the interest rate activity of the Fed, it doesn’t mean that it followed the same pattern.
Be ready to expect mortgage rate to drift higher over the next few months, so if you plan on getting lower interest on your potential new home, make a deal as soon as possible.
Higher Home Equity
Higher home equity means more net on the sale, and you may quickly provide down payment to your next home. If you made a hefty down payment, there would be a chance to have a lower interest rate. Also, it’s unlikely to increase monthly dues with private insurance companies.
Summing Things Up
It is better to sell your home sooner this year because the recession is expected to occur by the next couple of years. The new pattern of real estate that indicates an immediate boost in prices is unlikely to happen in the future. Ron said that there’s nothing to cause a vast hike or increase in demand in home prices.
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