“Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”
Introduction:
As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why.
Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.
Another reason today’s rates make now a good time to sell? More buyers are jumping back into the market. Many had been waiting on the sidelines for rates to fall, but now that that’s happening, they’re eager and ready to buy. That means more demand for your house. According to Sam Khater, Chief Economist at Freddie Mac:
“Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”
Right now, there are still more people looking to buy a home than there are houses for sale, which puts you in a great position. But keep in mind, with the recent uptick in new listings, we’re seeing more sellers may already be re-entering the market.
Listing your house now helps you beat your competition and makes sure your house will stand out. And if you work with an agent to price it right, it could sell fast and get multiple offers. U.S. News explains:
“When there is low housing inventory, sellers could get top dollar for their homes.”
Experts forecast home prices will keep going up this year. What does that mean for you? If you're ready to sell your current house and plan to buy another one, it may be a good idea to think about moving now before prices go up more. That would give you the chance to buy your next home before it gets more expensive.
Homeowners today have tremendous amounts of equity. In fact, a recent report from CoreLogic says the average homeowner with a mortgage has more than $300,000 in equity.
If you've been waiting to sell because you were worried about home affordability, know your equity can really help with your next move. It might even cover a big part, or maybe all, of the down payment for your next home.
If you're thinking about selling your house and moving to another one, let’s connect to get the process started now so you can get a leg up on your competition.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Our Nevada County. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Our Nevada County. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Clare Moran has quickly established herself among the preeminent realtors in Nevada County. In early 2022 she was named to the Top Producers Masters Club for Nevada County and also invited into the exclusive RE/MAX 100% Club. Tenacious, resourceful, and well-connected, Clare has broad experience as both a Buyer’s and a Sellers Agent and is accredited by the National Association of Realtors as a Buyers Representative.
I first thought Clare might be inexperienced, but was very impressed with how well she tailored the homes we viewed with what I told her I was looking for. I asked her many questions and found her answers to be well thought out and objective. I will definitely hire her again.
We had an absolutely wonderful experience working with Clare. We were searching for a very unique property to expand our business and it was no easy feat! Clare stood by our side for almost 2 years searching for the perfect place. She always made herself available to us, is incredibly knowledgeable about everything Nevada County and has such a wonderful presence that she is just a joy to be around. Our escrow went so smoothly and we always felt good about having Clare in our corner. We are settling into our new beautiful home and we are just so grateful that we had Clare to navigate us through the whole buying experience. We highly recommend her.
House-hunting felt like a daunting task to me, I was looking forward to it...and I wasn't. Clare helped me get clarity on what I was looking for, effectively vetted and weeded out options that weren't a fit, and ultimately saved us hours of needless running around. She homed in quickly on what my style is, what aspects of living were appealing to me (and not appealing) and found us our perfect house. Even when I felt like I was being too picky, she assured me that my needs were important and that we would find THE house. And we did.
Nevada County Living Starts with Us: Your Premier Real Estate Destination
Clare Moran
Associate
License# 02068824
Cell: 530-210-0486
10126 Commercial Ave
Penn Valley, CA 95946
Office: 530-432-0711
License # 02068824
Teresia Renwick - Broker, 01949144
Norcal Gold, Inc CAL DRE#01215931 | Peninsula Gold, Inc. CAL DRE#01957500 | Vallejo Gold, Inc CAL DRE#01820911 | Sierra Nevada Gold CAL DRE#01949144 | Abbott Real Estate CAL DRE#01201606
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