Should You Sell Now and Buy Now?

You can sell your house, and you feel you can get a wonderful buy on the other end with interest rates so low. Should you take advantage of the “flat” or lower prices and sell, taking advantage of the current market or should you wait? Personally, I see interest rates going up, prices of homes going up, and inflation increasing. And yes, you should sell and buy now.

Now, do you have a strategy for your selling and buying?

We feel we have the solution:
1. Nail down a value. You should talk to a reputable, qualified agent to give you an idea for what your house might sell for. You need to ask for proof of the suggested value, worse-case scenario, and all the costs that would be involved in closing. If the price is acceptable and you can live with the worse case, get your house on the market as it will take a minimum of 65 days to sell as an average in most of our cities.

2. Set a budget. Most of you are debt-averse! You might want to keep your mortgage very close to what you have now, so you could add funds from nonretirement savings toward that down payment. But figure out what your goal is: to get your payment down or to have your cash available (remember that money in a house is sitting there and is “dormant” equity and not working for you)

3. Shop like a shark. Have your agent review what is out there available for you and realize that our inventory is down. Very often it is wise to go look at a few homes to see if there IS something in the marketplace that you could not live without! Then start the moving process.

4. Always have a Plan B. What if the house you love is sold before you sell yours? What if your house takes longer to sell and you don’t get as much as you were told was the bottom dollar? What if you sell so quickly, you haven’t found your next “dream” house? Just have some backup plans for possibilities that might happen. You would be surprise how many times we make it all work out and work it out smoothly!

Call us to interview and see if we have a strategy that would work for you at 972-985-4747 or email us at Betty.Magee@HomesByBetty.com