Sellers Take Heed! Buyer’s Market is over for now! It’s a Seller’s Market Now!
Are you thinking of selling your home? Are you still waiting for the market to bounce back? Have you heard that homes are selling again in Bellingham?
This may be the perfect time to sell your home.
Let’s look at some facts. Let’s say you paid $250,00 at the peak of the market and it is worth $200k in today’s market. Let’s say you wait 2 more years and the market appreciates it’s normal 3-4% per year. In two years then your house will be worth ~$215k. Maybe worth waiting?
Let’s look at another set of facts. Mortgage rates hit another record low this week and are
about 3.4%. That means a buyer who can afford $1,200 per month can afford your house.
Now let’s say mortgage rates move back to say 6% considered a good rate just a few years ago .
Now what can that same buyer afford?
Still thinking waiting is the right thing to do? How many fewer buyers will there be for your home when your it is now worth $215k, but the buyers can only afford $150k?
If you think this may be a good time to sell give me a call let’s talk