Buyers Sellers /On November 13, 2013

Should I Buy and Sell My Home Now, or Wait?

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As the local real estate market slowly recovers, prospective buyers and sellers should consider the consequences of timing their real estate decisions. One lesson I have learned repeatedly during the last few market cycles is that the 3 most important factors in real estate are Timing, Timing, Timing. And, unfortunately, many learn this lesson the hard way: as they’re looking in the rear view mirror and saying “I wish I would have….”

Buyers
For prospective home buyers, the cost of waiting can be significant in a market recovery. There are 2 factors that converge to dramatically affect the expense of home ownership: escalating prices, and increasing interest rates. The infographic below (courtesy of www.keepingcurrentmatters.com) illustrates the impact of the combination of a 1% interest rate increase coupled with a 5% appreciation in price on a monthly payment – an 18% difference in cost!

selling my house

Sellers
For sellers, the timing decision can be a bit more complicated. It really depends largely on your overall moving plans. If you are selling your current home in order to purchase a new home, then you must balance the cost of purchase (illustrated in the infogrpahic) against any losses on selling now rather than later.

At Liz Moore & Associates, our agents pride themselves on helping our clients make wise real estate decisions. And, we would be happy to sit down with you for a complimentary consultation, to help you evaluate your options in the current market, and if it makes more sense for you to move now or later.

Email us at concierge@lizmoore.com, or click below, and we can prepare a complimentary analysis of market value for you – you just may be pleasantly surprised.

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Lynnette Tully

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Liz Moore & Associates is a boutique real estate agency renowned for having the region's top agents, with extensive market knowledge and local expertise that is only achieved through relentless training coupled with Liz's extremely high standards for professionalism. When you're buying or selling a home, experience matters.