If you’ve been contemplating selling your home, then this winter presents potentially your last opportunity to receive top dollar.
You heard that right. This winter season is the end of the line before the housing decline begins in earnest.
Why do we say this? As always, we analyze the data as the path is in the math.
First, current values have now surpassed the peak of the previous housing bubble in 2007. How many of you knew home prices had already hit record highs? Even the Stock Market recently hit an all time high.
Second, we've entered a period of steadily increasing mortgage rates. For example, the average 30-year mortgage rate has seen a constant increase from its low of 3.37% (recorded last July), to well above 4.5%. Based on the Federal reserve's policy bias of continuing to move rates northward over the course of 2017, we see a very strong possibility of inflation. It would not at all surprise us to see rates at 5.0to 5.5% by 4th quarter.
Third, we've officially completed the election cycle. Concerned multitudes paused their potential investments due to the election and the uncertainty that came with it. Many of the folks in these crowds are now hesitant to re-enter the real estate market and this has created even more uncertainty for the months ahead. Combine that with the turbulence shown by the left/Democratic Party surrounding Donald Trump’s policy moves and it does not paint a pretty picture.
Moving forward, and using our incredibly cloudy crystal ball, we believe all three of these factors present a very convincing argument the time IS NOW to realize top dollar on the potential sale of your home.
Plus, why wait to put your home on the market when you have little to no competition right now in the winter? Waiting until the spring will only increase your competition amongst other home sellers.
As a homeowner considering selling, your #1 goal should be to get top dollar on its sale. The Monica Diaz Team is here to tell you that moment is NOW.
It is our professional opinion based on data listed above, we have already peaked and are moving toward the next shift now.
While the market is still at historic highs, we strongly suggest listing your home before property values drop.
Do you have questions or apprehensions about this market?
We have been through 3 different real estate cycles and can help navigate you through this one as well.