Low Interest Rates vs. Low Resale Values
Q: I’m considering selling my house and purchasing another but I think I may not get top dollar for my home. Is it a good time to purchase with the low interest rates and housing inventory or should I wait since I may not get top dollar for mine?
A: If you’re selling your home in order to buy another home – especially if you’re moving up in house – the current market requires you to look at the situation as a package deal. Sure, you’re probably going to get less for your home than you would like. But the flip side is that on your purchase you’re going to be able to find a heck of a deal because of the incredible seller competition out there right now. Add into the mix that interest rates have been hovering around all-time lows and that means you can get more house for the money than ever before. Plus on the listing side, the market has shown very clearly that homes priced to sell are still moving very quickly—even in this competitive buyers market.