Buying or selling a house is always a good idea, but the new year can provide some unique advantages. For buyers, the new year often means new opportunities and a fresh start. Additionally, there tends to be less competition in the housing market during the winter months, as many people are focused on holiday activities instead of house hunting. This can lead to lower prices and more negotiating power for buyers.
For sellers, the new year can also present a great opportunity to list their home on the market. Many people make resolutions to start fresh in the new year, which may include buying a new home. Additionally, with the holiday season over, potential buyers may have more time and energy to focus on house hunting. If you want to list your home, now may be the best opportunity as sellers have a slight advantage in the current market.
Even better, rates are in a slight downward trend. According to Forbes Advisor, “Over the past year and a half, mortgage rates have skyrocketed to their highest levels in decades amid the Fed’s aggressive interest rate policy actions to tame inflation. Recently, however, rates have declined steadily as a result of the Fed’s rate-hike pauses and cooling economic data.”
In addition, there are a lot of opportunities for buyers right now. As interest rates come down, sellers are more likely to list their house for more than they would have during high interest rates. Buying now will help you avoid those higher home prices come spring and summer. Also, if you buy now, you start putting equity in that home right away and there is always an opportunity to refinance later to get a lower rate. If you’re a renter keep in mind that rent rates will just continue to increase. You aren’t putting any equity into your rental. You are going to pay a mortgage as a renter - the landlord’s mortgage!
Don’t miss out on the opportunity to get the house you want because of fear of the market. An experienced agent at Upside Real Estate can guide you through it and create the right connections with lenders who can make your dream a reality. There are also a lot of programs we have to help make it possible such as crowdfunding your down payment.
Homeownership is still the best way to invest in your wealth.
Current trends show that buyers prefer move-in ready homes. Do you want to make your home move-in ready so you can get the best price for the value of your home? There are programs such as Upside’s pre-sale home renovation program that can help maximize the sales value of your home before going on market.
Overall, buying or selling a house in the new year can be a smart move. Whether you're looking to start fresh or take advantage of the market, now may be the perfect time to make your move and we’re here to help make that move.
And speaking of helping make that move, Upside now offers packing and unpacking services to make the stress of moving a bit easier. We also can help with organization and decluttering, and estate sales. We’re passionate about helping our clients in all aspects of real estate.
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