Should I Sell My House Now?

image by Getty images/Realtor.com

With Spring now in full swing, most home owners know it’s normally the best time to put their house on the market. But with interest rates doubled from this time last year, sellers are wondering if they should give up their low mortgages and enter into this stressed housing market. Let’s take a look at this realtor.com article giving both positives and negatives to list your home right now.

Reasons to Sell Now:
-Inventory is low, low, low in Oxford and Lafayette county!
-Home prices are still going up.
-Home equity is at an all-time high.
-A variety of sales methods offers sellers flexibility.
-Buyers always come out with warmer weather.
-No one knows what mortgage rates will do – don’t waste your time waiting.
-New job? Need to downsize? You need to list if you NEED to sell your home.

Reasons to Wait to Sell:
-You will most likely get a higher rate mortgage. You might get sticker shock when you compare your current mortgage payment to a new one.
-Your house needs a lot of work. If buyers are paying top price right now, they want move-in ready homes.
-You don’t have to move? Wait.