Increasing Interest Rates: Should I Stay or Should I Sell?

Posted by Casandra Properties on Friday, October 26th, 2018 at 11:27am.

Interest rates are determined by the Federal Reserve and they are currently 2.25%. They have been on the low side, but won’t be for much longer. In other words, interest rates on real estate are going everywhere but down so NOW is the time to get your property on the market. You don’t want to be cut short on your property’s worth. As of October 2018, mortgage rates remain low which will increase the buyer pool for your property. 

You might be asking yourself “What am I risking if I wait until 2019?” 

To start, as interest rates rise, the value of your home decreases. It is projected to rise to 3.0% in January 2019.  

The current demand to buy homes is high.  

People want to invest while they are able to get a mortgage. The odds are in your favor! Interest rates increasing means less money to borrow. Less money to borrow means people have to look for cheaper homes.  

You can suffer a set back in time and money If you are among the majority of families waiting to list your home for sale until after the holidays or after the New Year. There will be an abundance of property available after Jan 1 and interest rates are projecting to go up. This will result in more supply and less demand. To get ahead of the curve the time to list is now so by January/February, your home will be sold! Here at Casandra Properties, Inc. we can help guide you through the process!

 

By: Thomas Manieri

 

For more information contact Thomas at Thomas@CasandraProperties.comor call 718.816.7799.

 

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