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Aug 27, 2024 · 2. Falling interest rates are creating a favorable market for sellers. With interest rates trending downward, the current housing market presents a favorable landscape for sellers. This rate decline often stimulates increased buyer demand, potentially accelerating the sales process.
- If Mortgage Interest Rates Are Going Up
- If Your Move Isn’T Crucial
- If You Haven’T Built Much Equity
- If Housing Inventory Is Rising
- If Your Home Has Unfinished Major Repairs Or Renovations
- If You’Re Happy with Your Current Home
- If You Recently Refinanced Your Home
- If You Can’T Afford to Move
- If You Will Face Steep Capital Gains Taxes
- If You Have No Clear Game Plan Or Objective
Traditionally, rising interest rates lead to a decrease in home values and offer prices. However, the current market defies this trend. Many homeowners, reluctant to give up their ultra-low mortgage rates, are staying put, creating a restricted housing supply and keeping prices high. That being said, with home sales down nationwide, your property c...
Yes, upsizing can be on both the “sell now” list and the “wait to sell” list. Is your desire to upsize based on a crucial need or just because you think it would be nice to have the extra space? The cost of purchasing a larger home now may become a burden, especially if other factors will add additional costs, such as higher interest rates or a lac...
Similar to evaluating your home equity when you’re considering trading up, you don’t want to move when your home is considered “upside down,” i.e., you owe more than the property is worth. For example, if your home’s value is $300,000 and you owe $320,000, you may want to wait to sell or rent it outuntil you’ve built up some more equity. Because th...
When supply is high and demand is low, selling your home may not be as profitable as you would like. Keep an eye on what’s happening in your market. In many areas of the country, high housing inventory may not be an immediate concern. Nationwide, it’s only at a 4.1-month supply, and a 6-month supply is considered a balanced market. The current U.S....
A home that needs a lot of work can turn away potential buyers looking for a turnkey property. Typically, to get top dollar, you are better off completing any remodeling projectsbefore placing your house on the market. Whereas during the pandemic housing boom, most buyers were willing to take whatever they could get and waive many seller concession...
If you are content with your existing home, and it fits your needs and budget, waiting to sell might be the best decision. “If your home is comfortable and you are locked into a low interest rate, then you might not want to sell,” says Nathan Butcher, a top agent in Los Angeles with 24 years of experience. Homeownership is a natural hedge against i...
Because mortgage rates hit record lows between 2020 and 2021, many people opted to refinance their higher mortgage rates instead of opting to buy a new home. According to Freddie Mac, refinancing activity in 2020 reached its highest annual total since 2003, climbing to $772 billion inflation-adjusted dollarsin single-family refinances. Now, as mort...
The recent rise in home prices can be a double-edged sword. It’s great when you’re on the sell side, but is it worth cashing out now if you’ll have to sacrifice those profits to buy high? If you are not in a financial position to make your next home purchase, or if the cost of transitional housing is beyond your current reach, now may not be the be...
Capital gains taxesare another consideration. You may be able to avoid paying capital gains taxes on your home sale, but you’ll need to have owned the home and lived there as your primary residence for at least two of the five years leading up to the sale. As long as you meet these criteria, you can exclude up to $250,000 (or $500,000 if you’re mar...
Moving is a big decision. It’s even bigger when it involves selling what is likely the largest financial asset you have. To avoid seller’s remorse, you’ll want to map out exactly what you’re going to do as soon as the home is sold; whether that’s immediately buying a new home, moving into a family member’s casita, or committing to full-time RV livi...
- Max Efrein
Aug 15, 2024 · If popular opinion is any guide, now may still be a good time to sell despite the evolving market. According to Fannie Mae’s July 2024 Home Purchase Sentiment Index, about two-thirds of ...
Apr 12, 2024 · The decision to sell your house now or wait is a big one, with personal and financial implications. One challenge facing sellers right now is a cooler housing market, following a surge in interest rates and a drop-off in buyer demand. Also, in early March, Redfin reported that year-over-year home prices had fallen for the first time in more ...
- Deciding whether to sell your house now or wait until next year depends on a number of factors, including your local market climate and financial s...
- You should wait to re-sell your house until you've lived in it for over two years. At that point, you'll likely avoid paying capital gains tax and...
- Some analysts believe housing prices will fall in 2023 as the Federal Reserve raises interest rates. But the real estate market is always shifting....
Jun 17, 2023 · The obvious benefit to selling your home first is gaining a clear financial picture before your next property purchase. Once you sell your home, you’ll know exactly when your closing date is and how much you can afford to spend on a new place. If you’re relying on the capital from the sale of your current property, or you’re not in a ...
Specific reasons to sell your home can come quickly, including job changes, divorce, children, health issues and marriage. But for others, the decision to stay or sell will be one of great deliberation. Few decisions will have bigger impact on your life than selling your home. Often, the decision requires landing on priorities to ensure you are ...
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Feb 5, 2024 · Read on for some reasons why you might want to be the early bird of the 2024 real estate market. 1. Mortgage rates are falling. One of the main reasons home sellers were reluctant to sell in 2023 ...
