Will Waiting Another Year be a Better Time to Sell?

This is a question that is clearly on peoples minds today. The real estate market, especially in Basking Ridge and a few other area towns has been nothing short of fantastick. In the lower milf porn end because Federal tax credits have been a huge stimulus but more remarkable is the luxury home – over 1.5 million that is really beginning to rally. In areas like Harding, three and four million dollar homes are going under contract like we have not seen there in three years. So will it continue to improve? Will higher interest rates kill the momentum? While Jumbo financing has loosened considerably, the Fed’s selling off of bonds along with halting it’s emergecny program to buy mortgage debit, will clearly send rates higher. A 30 – year fixed rate mortgage is up a half point since December. Each increase of 1 percentage point adds as much as 19% to the total cost of a home. The mortgage rate is expected to be 6% by the end of this year.
So this easily could have a serious effect on the housing market. It also means that credit card rates and car loans will cost more so overall consumers will be spending more. The momentum is NOW so I believe it’s the best time to sell. No one has a crystal ball to say what will happen tomorrow but we can’t dispute momentum. People believe prices have bottomed out, interest rates are still reasonably low, there is a tremedous amount of pent up demand and the momentum is there. So if you are considering downsizing or upsizing, it’s a great time to do it.

 

 

When you choose me to handle your Basking Ridge Real Estate needs, you choose a realtor® who cares about you and your family. Buying or selling a home is always more enjoyable when you work with professionals who will listen to your needs and who will work together with you to achieve your objective. I am very familiar with all types of real estate and homes for sale in Somerset County and I specialize in Basking Ridge, Bernardsville and Harding. I am also experienced with staging and preparing homes for sale in the Basking Ridge area, particularly homes that did not sell the first time. I am dedicated to helping you make intelligent, informed decisions and to providing you with exceptional service. Call or email me to lesbian porn see how I can transform your real estate experience. (201) 259-4449 Adrienne@AdrienneFrancis.com

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