If you’re thinking about selling your home, you should know that there is no better time to sell than right now. There are several reasons why selling now might work out better for you than waiting. Here are three to get you thinking:
First, interest rates on home loans are low right now. They won’t get much lower and could start going up at any time. Talk to any good mortgage lender and they’ll tell you their phones are “blowing up” with inquiries for buyers. Ours are, too!
If you put your home on the market now, when interest rates are low, you probably won’t have to wait very long to find a buyer. However, if you wait to sell your home, interest rates could be much higher, which means it may take a while before you can find a buyer who can afford the mortgage. Sometimes that extra $50, $100 or $200 added to a monthly payment freezes buyers. Or keeps them on the sidelines indefinitely.
Next, banks are lending money right now. This means that buyers can actually qualify to get the home loans they need to buy homes. If you wait, the banks may not be lending money to the extent they are right now. During the recent recession, lending seemed to slow to a snail’s pace. And that’s why we saw so many home sales stall. Yours will, too, if banks and mortgage companies slow their lending down again as most buyers do not have the cash on hand for such a large purchase.
Finally, if you’re looking to buy a bigger home then you can take advantage of these very same factors to help you move up into a larger or more expensive home, and have a lower interest rate, and be able to find financing quickly and easily as long as you have decent credit.
There’s a pretty large demand for homes in the Western Slope area right now. What price would it take you to get you to sell your home? Give us a call today and we’ll help you determine the best price for your property.