Top 4 Reasons to Buy Now and Not Wait for Spring!

Dated: December 19 2022

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4 Top Reasons to Buy NOW and Not Wait for Spring

As you plan out your goals for this year, moving up to your dream home may top the list, but how do you know when to make your move?

You want to time it just right so you can get the most for the sale of your current house. You also want to know you are making a good investment when buying your new home. What you may not realize is that the opportunity to get the best of both worlds is already here.

Hi, I am Melissa Elliott of Elliott Real Estate Professionals in Raleigh NC. You don’t want to wait until spring to spring into action. The current conditions make this winter an ideal time to move and here’s why:

1.  The # of homes on the market is still low. Today’s limited supply of houses for sale is putting sellers in the driver’s seat.

*There are far more buyers in the market than there are homes available and that means buyers are eagerly waiting for YOUR house.

*Listing your house now makes it the center of attention. As a seller that means if it is priced correctly, you can expect it to sell quickly and get multiple strong offers this season.

*Just remember, experts project more inventory will come to market as we move through the winter months.

 

Realtor.com 2022 says this: after years of declining, the inventory of homes for sale is finally expected to rebound from all-time lows.

*Selling may help you maximize your return on investment before your house has to face more competition from other sellers.

 

2.  Equity is growing in record amounts. Current homeowners are sitting on record amounts of equity thanks to today’s home prices appreciating. According to the latest report from Core Logic, the average homeowner gained $56,700 in equity over the last 12 months. That is amazing!

*That much equity can open doors for you to make a move.

 

If you’ve been holding off on making a move because you are worried about how rising prices will impact your own home search.

*Rest assured; your equity can help fuel your next move.

*It may be just what you needed to cover a large portion, if not all, of that down payment of your next purchase.

 

3.  While rising mortgage rates are still historically low. In January of last year, mortgage rates hit the lowest point ever recorded.

*Today, rates are starting to rise, but that doesn’t mean you missed out on locking in a low rate. *Current mortgage rates are still far below what they have been in recent decades.

*In the 2000’s, remember the average mortgage rate was 6.27% and in the 1990’s that rate was 8.12%.

*Even with mortgage rates rising above 3%, they are still worth taking advantage of.

 

You just want to do it sooner rather than later. Experts are projecting rates will continue to rise throughout this year and when they do, it will cost you more for your next home.

 

4.  Home prices are going to continue to keep rising. According to industry leaders, home prices will also continue appreciating this year.

*While experts are forecasting more moderate price growth than last year, it’s important to note prices will still be moving in an upward direction throughout 2022.

What does this mean for you?

If you are selling so you can move into a bigger home OR downsizing to the home of your dreams, you want to consider moving now before rates and prices rise further.

 

If you’re ready and you have an opportunity to get ahead of the curve by purchasing your next home before rates and prices climb higher.

 

Bottom Line: If you are considering selling to move up or downsize this may be your moment, especially with today’s low mortgage rates and limited inventory.

We would love to connect with you today to get you set up for your home buying success this year.

 

Again, I am Melissa Elliott of Elliott Real Estate Professionals. Your go-to realtors for all things real estate and community.

 

Exceptional Service Outstanding Results!

 

Reach out to us at 919-307-7303 or at www.TriangleHomesForYou.com or email us at melissa@elliottpros.com or michael@elliottpros.com

For an entire library of informational videos on real estate or current market updates for the Raleigh NC Triangle area, go to our youtube channel at https://www.youtube.com/@ElliottRealEstateProfessionals

 

 

 

 

 

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Melissa Elliott

Our commitment to World Class Service begins with YOU! Our mission is to ensure a Smooth, Efficient, Exciting, and Positive experience before, during, and after the home buying and selling process. Wh....

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