At Team Nelson, we understand that oftentimes people aren’t really sure whether it’s a good time or bad time to buy or sell a home. Most homeowners really don’t pay that much attention to interest and employment rates or other statistics unless it directly affects them. So, now that it’s mid-April is it a good time to buy or sell? Our Flower Mound real estate agents will assure you the answer is a resounding YES. Here’s why.
Interest rates and home prices are at their lowest in years. However, this is highly likely to change in the not-too-distant future, as the Federal Reserve recently indicated that when unemployment rates fall below 6.5%, interest rates will rise. Unemployment is on the decline, and the economy is showing many signs of recovery, which only mean that if you wait, buying a home will cost you considerably more than it will right now.
What does this all mean? If you are wanting to sell your home, buyers will either need to make more money to be able to afford your selling price, or have more money saved up. If you are in the market to buy a home, buying now means you can afford more home now than you will be able to in the future. Or, look at it another way; if you aren’t looking to necessarily buy “more” home, you can get the size home you do want cheaper now than in the future!
Another reason to buy now is that affordable homes on the market are disappearing fast! When the housing market was seriously down in recent years, homes sat on the market for months, years, or never sold. Today, homes in the most desirable areas (such as Flower Mound, Frisco, and Denton), which are well priced, are going like hot cakes – and the down side for a home buyer is that prices get pushed up when the most desirable homes get multiple offers!
If you’re tossing around the idea of buying a home or selling the one you’re currently in, don’t wait too long! When conditions change, your selling or buying opportunities won’t be so plentiful. Call us at Team Nelson today, and let us help you navigate what is often a complicated and frustrating process.
