[READ-A-BIT BLOG] It’s January 4th. Do I Need to Wait Until Spring to List My Home?
Do I need to wait until Spring to list my home? The Answer is: No.
The holidays are behind us, a new year is in our future, the tax season is fast approaching, and first-time homebuyers are considering the pros and cons of renting and whether they should extend their lease for another year. As you know, homeownership provides a means of converting cash into a potentially appreciating asset. And your home may be just what the buyer is looking for when it comes to layout, features, and location.
Tax offices are gearing up their offices for the multitude of personal and corporate tax returns they will complete in the next three months. Tax refunds are a way for first-time homebuyers to supplement their savings to meet their down payment requirement for their home purchase.
It is true. Mortgage rates have been rising since March 2022, and experts predict they will rise again in 2023 as well. In the 1970’s, an average 30-year fixed mortgage rate was 8.9%; 1980’s it jumped to 12.7%; 1990’s averaged 8.1%; the 2000’s, it dropped to an average of around 6.3%.
Today, both housing demand and price appreciation have tapered. The primary challenge for buyers has shifted from availability to affordability. Homebuyers are still buying. There are mortgage options available for buyers that can make a home purchase more affordable–and, they may be able to refinance down the road when interest rates are lower.
Rent prices will continue to climb, and
One last thought: less competition. There are fewer homes on the market in the winter, so there is less competition. As temps increase in April, May and June, so do the number of homes that become “for sale” in the market.
If you are interested in learning more about the value of your home or the homes in your neighborhood, please contact us. We would be happy to provide you with a market analysis for your area and a specific strategic plan for your home.
New Century Real Estate is an energetic team that helps you fully understand the process of purchasing and/or selling a home. Be sure to ask us about savings available for local Hometown Heroes who buy or sell a home with a New Century Real Estate Agent.
