Here are a few good reasons not to wait until 2023 to sell.
The spring rush is here! Today’s market definitely favors sellers over buyers, so if you’re on the fence about listing your home, I’m here to tell you that now is the time to act. I don’t have a crystal ball to tell me the future of where the market’s going to go next year, but I do know that right now is an excellent time to sell. Today I’ll share a few tips that will show you why you shouldn’t wait until next year.
First, mortgage rates are set to rise throughout the year. That means buyer offers may shrink as homes become less affordable for them. The pool of buyers you have in 2022 is much larger, which gives you the advantage of being able to accept offers that best suit your needs.
Additionally, construction may rebound soon from pandemic-related delays. That will only create more competition among sellers. Selling this year puts you ahead of that race. If fear is what’s making you wait, know that there are plenty of options out there for you. A real estate professional like me can lay them out for you.
For example, many people who need to sell their homes also need to buy new ones. One way to smoothly transition between homes is to negotiate a rent-back agreement from the buyer. That allows a seller to continue living in their home for a certain amount of time while you look for a new home to buy.
If you’re in need of funds for the down payment on your next home, certain loan options require less money down. We’d be glad to help you figure out which loans would work best for you. Alternatively, if you want to submit a larger down payment in order to be more competitive, you can seek a home equity line of credit. That will allow you to turn the equity you’ve built up in your current home into a down payment on the next.
If you’d like to hear more about the options you have for selling your home in today’s market, or if you have any questions, give us a call or send an email. We’d love to help you.