In my opinion, the current market conditions in North Texas are as ideal for sellers as I’ve ever seen
them. The chronic lack of inventory over the past 18 months and the
steady increase in home values makes this a perfect seller’s market, and
there is no guarantee that waiting a little longer to sell will
guarantee a stronger bargaining position than you have right now as a
In fact, there are some distinct disadvantages in waiting to sell
your home.I’ve put together a list of the top four reasons why it makes
sense to sell your home now as opposed to later:
Reason #1- Interest Rates are on the Rise We have
enjoyed record low interest rates on mortgages over the last several
years. This was primarily an effort to jump start the housing market.
The lower interest rates made it easier for folks to afford to buy
homes, and this has allowed the housing market to begin the slow process
of healing. However, the past sixth months have seen interest rates
gradually begin to increase. These rates are projected to continue to go
up steadily over the next year and beyond.
Reason #2- Payroll Taxes Affect Future Sales The
payroll tax that provides funding to Social Security was reinstated to
its 2010 high of 6.2% in the beginning of 2013, and people are starting
to feel the pinch. The effect of this payroll tax increase will become
more pronounced over time, so people may not be willing to pay as much
for your home a few months down the road as they are right now.
Reason #3- Simple Supply and Demand Inventory has been chronically
low for the past 18 months, and homes are selling more quickly right now
than they have at any time in the past five years. The housing recovery
has spawned a lot of new potential buyers who are actively looking for
homes in North Dallas, Richardson, Plano, Frisco, Allen, Garland, and Rowlett. A lot of neighborhoods I’ve looked
at recently have had zero inventory. It’s hard to imagine a more
favorable selling situation that the one that exists right now.
Homes that are "show ready" and priced appropriately sell in just a few days.
Reason #4- Low Interest Means Buying Power With
interest rates slowly rising, the big buying power that the current low
rates give buyers is going to lessen in the next year. Buyers are aware
of this and are looking to buy now while their buying power is still
For a free, no obligation, evaluation of your homes market value, please call or email Mark Mulch at 972-841-2324 or MarkSellsTexas@gmail.com. Start the search for your next home at www.MarkSellsTexas.com
Author:Mark Mulch Phone: 972-841-2324 Dated: May 5th 2014 Views: 1,358 About Mark: An accomplished Realtor, small business owner, and Ironman triathlete, Mark excels in delivering a h...
There has been a lot of talk about the falling homeownership rate in t
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