Over the past several years, home buyers have enjoyed mortgage rates at historically low levels. However, as the Federal Reserve has shifted policy to head off inflation, mortgage rates have started to go up, and are expected to continue doing so for quite some time. As a result, if you've decided to sell my house
due to a divorce, relocation, illness, or inheritance, now is the time to do so, before rates get high enough to discourage many buyers.
With 30-year mortgage rates forecast to average five percent in 2019 and 5.3 percent in 2020, this may discourage many millennials and those currently renting homes from buying the properties they desire. However, if you choose to work with real estate professionals who know how to help you sell your property quickly while making a nice profit for yourself, you can have millennials, renters, and other potential buyers bypassing other properties and instead focusing on yours. Since your property will be comparable to others but priced lower, buyers will be eager to make you an offer.
While most housing experts believe the mortgage rate increases will be gradual enough to not discourage most first-time home buyers from purchasing properties, they do think there will be an issue regarding builders not being able to supply enough new homes for these buyers. As a result, this may make your home look even more attractive, especially if it is relatively new. Since first-time buyers are always eager to purchase their dream home, they may look at your property as a dream come true, especially if it is comparable to what they want and is priced lower than what they expected to pay. However, to make sure you put yourself and your home in the best position to get noticed by these buyers, always work with real estate professionals who specialize in selling homes fast.
Due to the lack of available properties in many states, home prices are increasing at three times the rate of buyer's incomes. As a result, more and more buyers are having to look much harder to find homes they can afford. Again, this can work to your advantage. By having a comparable home at a lower price, buyers will feel as if they have found a hidden gem within their local real estate market.
When you decide to sell my house
due to an illness, inheritance, relocation, or divorce, trust the professionals who can make this task both easy and profitable. By doing so, you can have cash in hand immediately, close the deal in a matter of days, and be part of a win-win situation for everyone.