According to research, some home sellers are monitoring home prices really carefully, waiting to see how real estate prices will fair in value before considering selling their home. But they might as well be missing the perfect opportunity. Why is that? As a known fact, the perfect time to start marketing a home depends on when the homeowner purchased their current home. Homeowners who invested in real estate during the slow market-rate period may consider stepping up and selling in this year.
Consider These Factors
Since they purchased estates when the market was near ground bottom, these homeowners supposedly have built up good equity that can be used toward purchasing a new home. Waiting to see whether home prices appreciate will not have an advantage given that other estates that they might have their eyes on and want to purchase will also be appreciating at the same pace. These homeowners are actually missing out. Selling your home just to move into another, does not necessarily mean you have to wait for the market price to go up to be getting the best out of the deal. The price of the move-up will actually increase much faster than the home you are leaving behind.
Aside from that, mortgage rates are said to increase a couple of notches in the next year alone, increasing the costs of financing your next home.