Why Now is a Good Time to Sell Your Home
If you’ve been wondering, “when is a good time to sell my house?” It’s now and here’s why.
According to the NATIONAL ASSOCIATION OF REALTORS® home sales are at all time high passing the rate at which they were sold in 2006!
The current pandemic has created an interesting and exciting new opportunity for both buyers and sellers. The Federal Reserve in an effort to curtail the negative impact of the Pandemic lowered their percentage rate on money they loan to banks.
This lowering of interest rates has allowed Home Lenders to lower their interest rates they charge buyers to an all time low. I was recently talking to a buyer who qualified for 2.375%!
Why is this important? Well for a 30 year fixed loan at 2.375% on a $500,000 mortgage you’re looking at a Principal and Interest payment of $1943.26 but last year if you qualified for 3.5% that payment amount would be $2,245.22.
In fact to get the same payment at 2.375% you could spend around $575,000!!!
Since rates are so low this is allowing people to afford houses they could have never before afforded causing sales to skyrocket.
This sudden surge in home buyers has caused one major issue… We currently have more buyers than sellers. This sudden and dramatic increase in demand has put sellers back in charge of the home selling market.
If you’d like to take advantage of this opportunity and sell your home call me today at 480-907-3616 so we can discuss how much your home can sell for in the current market, and develop a selling strategy to net you the most from your most valuable investment
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