5 reasons now is the right time to buy or sell a home

  April 24, 2017, 11:05 am

By Debbie Hooge

If you have been wondering whether you should buy or sell a home and use a licensed agent, here are five reasons why the answer is "yes":
1. Buying and selling a home can be complicated. Sellers have some very serious obligations to buyers. If a seller does not understand these obligations, they could end up owing a buyer money. buyers, on the other hand, have to navigate inspections, title reviews, contract language and loans. As either a buyer or a seller, you need a licensed agent to be your advocate and guide.
2. Interest rates have gone up nearly two points in the last two years, and they are expected to rise. If you purchase a home after rates go up even 1 percent, your payment will increase by 8 or 9 percent. Ouch! Lock in your rate and buy now.
3. Low inventory and low interest rates mean that sellers are getting a great price for their home. If you are a seller and interest rates go up, the number of buyers reduces. If you wait to sell you will likely get fewer good offers.
4. Spring is the most popular time buy or sell a house. In fact, 60 percent of all real estate transactions occur near springtime.
5. New home construction has been a competitive and affordable option for buyers. However, new construction prices are increasing at a faster rate than existing home prices. If a buyer is looking for new construction, now is the time.

Buying or selling a home is a big decision. Fortunately, the current market is perfect for those looking to make the leap.

Debbie Hooge is the Broker/Owner of DMH Realty and has served in the Real Estate industry since 1989.