This is an age-old question that comes from mostly first-time home buyers, but even seasoned home buyers find themselves asking this question in today’s explosive market.
To start things off we must take a deeper look into what the market has been up to as of late. If you purchased before the housing market spike, then the odds are that you should be up almost 20% on virtually any property purchased before.
If that is the case, then listing right now is not a bad idea when considering that interest rates are historically at an all-time low. If you have found yourself in this position, then it is great news considering that the asset prices have made such a massive move in the upward direction. You may be looking at ways to begin to diversify your portfolio and purchases and quite frankly there are a lot of ways to get it done and still come out ahead.
If you are on the other side of the fence and you waited to purchase, then the current market may seem scary and overpriced. That being said, you have a few options on the table:
Buy asap because home appreciation is on an uptrend in your current market.
Wait again to see what the market does. Note: experts are now calling for another appreciation of 20% in the upcoming 2022 markets (no one can predict the market, not even the experts).
Finding creative ways to be able to land a home within your proposed budget.
This blog post is to encourage both sides of the market for buying and selling, the reasoning is that the first-time home buyer is looking to find something that meets their current needs, and the sellers are motivated to move because of gain, investment, job change, etc.
The bigger picture of this is that often we try to find the perfect time to accomplish a task and the opportunity does not always clearly reveal itself. As strange as it may sound , taking some sort of action is usually better than taking no action at all.
Think of this scenario: If you take action on something and it does not turn out the way that you intended then at least you can verify what things you would want to try and do better on the next go around. On the other hand if you never take action then you could never truly understand what all could go wrong or right.
If you wish to take action in the markets in Texas, then we have a brokerage full of agents ready to help you accomplish your Real Estate dreams!
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