When is the Right Time to Sell?

Timing Right?

Some homeowners feel their current house isn’t their forever home. Here are a few signs it may be time to start your search for something new.

  1. Your Home Doesn’t Fit Your Needs

If your family is growing, or you’ve recently become an empty nester, it’s probably time to start searching for a new home. Consider location, size, and layout when finding your next home.

  1. It’s a Seller’s Market

You can always count on the real estate market to provide shifting trends. Fortunately right now it’s a seller’s market and most homes are selling quickly. There is currently more demand for homes than the market can meet. If you’re on the fence it might be time to strike while the irons are hot.

  1. Your Interest Rate is High

Currently interest rates on mortgage loans are historically low. If you’re paying a mortgage with a high interest rate, it’s time to start searching for new opportunities. You can consider refinancing or maybe this is the push you need to find a different home. You’ll want to act quickly, as interest rates are expected to increase throughout 2018.

  1. Your Mortgage is Completely Paid

If your mortgage is completely paid off when you sell your home, you can reap the financial rewards of making years of payments. If you’re looking to downsize significantly, consider a smaller home that requires less upkeep. It’ll save you time and money if the home doesn’t require constant care.

Follow these tips to start preparing to sell.

Finding Your Perfect First Home

First Home

It can seem daunting when searching for a new home, especially as a first time buyer. Here are a few tips to help you prepare for finding your new home.

  1. Determine a Budget

Creating a budget before looking should be your top priority. Focus on both the down payment you have saved and earmarked to buy your home and the monthly mortgage and insurance payment first. It’s best to estimate on the higher end and then try to keep expenses as low as possible.

  1. Determine Needs and Wants

When buying a starter home, carefully choose the features you need and not just those you’d like to have. Do you want more space or to be closer to work? Create a list and try to check off as many as you can when viewing a home. But don’t confuse wants with needs.

  1. Consider All Properties

View as many homes as possible. You’ll learn what you like, what you don’t like and may even come away with a few interesting ideas for your final choice. Be sure to keep a journal or list so you’re able to reference the data later. It can get very overwhelming to keep home attributes straight after a few weeks of searching.

  1. Work with a Professional

Avoid the hassle of tracking new listings and scheduling showings and consider working with a Mel Foster Co. agent instead. There is no cost for the buyer, and you’ll have someone in your corner with industry knowledge and experience. Contact an agent today.

Why You Should Buy During the Winter

Buy in the Winter.

House hunting during the colder months may not be the most popular time of year to look, but there are several upsides to consider.

  1. You Face Less Competition in the Winter

Approximately 50% of homes sold during the year are sold during summer months. If you purchase in the winter, you may avoid stressful bidding wars and sellers can be more eager to close quickly as they have fewer offers to choose from. They may also try to sweeten the deal with additional incentives when you buy during this time frame.

  1. Sellers are Motivated

A motivated seller is great news for the buyer. If they’re trying to sell quickly due to relocation or other time constraints, they’ll be more flexible when it comes to price. It’s also possible the house has been on the market for an extended period of time, maybe since last summer, meaning the seller is ready to close as quickly as possible.

  1. Interest Rates May Increase

Interest rates can have an impact on your budget when buying a house. The direction of interest rates is never certain, but many analysts think the rates will increase, maybe even multiple times in the year, due to a strong economy. Consider that the sooner you buy, the further your money will go.

  1. Housing Prices are Rising

Housing prices on average have steadily increased the past several years. This upward trend is expected to continue according to real estate analysts.

Find a Mel Foster Co. agent in your town.


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