by
On Jan 18, 2011
Listed in Blog, Buyer Info, Seller Info

Many people have been waiting on the side lines for the market to drop so they can make their move, whether a first time homebuyer or a current homeowner waiting for prices to go up so they can sell and move into a bigger home. No matther what your situation is, here are some important things to consider when deciding if you should buy or sell now.

  • The only way to know if a market has “hit bottom” is after it has already started going up. Trends are based on historical facts so there is no way to know when the bottom hits until after it has happened.
  • Interest rates have begun to creep up over the last few weeks after being at all time lows. A higher interest rate means you can afford less house if you’re a buyer and if your a seller, there are less qualified buyers for your home as rates go up.

 

  • If you are waiting for the market to start going up so you can get a better price for your existing home, the price of your next home will also go up, as will the property taxes on it and interest rates. Again, the number of qualified buyers may dwindle.

The bottom line is this: YOU are the only that can decide when it’s the right time for you to buy or sell. It would be my pleasure to consult with you to discuss your needs and desires and develop a strategy to get you there.

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