Lisa Mailhot | August 29, 2023
Buyers
While apprehensions about higher mortgage rates might make you hesitant to sell your house, there's a broader perspective to consider. Beyond the financial aspect, your individual requirements hold significant weight. A Bankrate article highlights the personal nature of deciding when to sell:
“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”
Reflect on why you initially considered moving. It's likely that your motivation extends beyond finances.
The urge to sell probably stems from changes in your life or evolving preferences for your living space.
Let's delve into the prevalent motives driving sellers in today's real estate landscape, as elucidated by a recent Builder Online piece. The study identifies the following categories:
You may find resonance with one or more of these drivers. If any of these reasons align with your situation, it might be the right time to consider a move that accommodates your evolving needs. A Realtor.com survey reveals that 25% of sellers prioritize personal reasons over current mortgage rates:
“. . . more than half of seller-buyers (56%) who are planning to sell in the next 12 months said they are waiting for rates to come down, while 25% need to sell soon for personal reasons.”
If your circumstances have changed, delaying due to rates might not be necessary. There are strategies to facilitate your move. You can leverage the equity in your existing home for your next purchase. Given the current substantial equity homeowners possess, you might secure financing below expectations or even opt for an all-cash transaction to circumvent borrowing.
When you're prepared to place your evolving needs at the forefront, let's establish a connection. Enlisting an expert is essential for effectively listing your property and identifying a new home that aligns with your evolving preferences.
Vacation home demand has tumbled to its lowest level in years as rising costs and shifting work norms dampen enthusiasm for second properties. This blog explores why i… Read more
Mortgage loan applications surged 11% in late April/early May, largely driven by experienced buyers trading up to larger homes as mortgage rates briefly declined. With… Read more
Childcare costs are skyrocketing across the U.S., surpassing rent in most major metros. In cities like Denver and Seattle, families with two kids are paying over 160% … Read more
California home sales have dropped below Great Recession levels, while inventory has surged more than 50% in the past year. As buyers retreat due to affordability issu… Read more
Multifamily building permits have plunged over 27% from their pandemic peak, signaling a major slowdown in new apartment construction. Learn how interest rates, tariff… Read more
Despite a turbulent start to the spring buying season, market experts see reasons for optimism—especially in the new-home sector. With mortgage rates fluctuating, tari… Read more
The 2025 spring housing market is seeing stalled momentum, with homebuyers backing off amid economic uncertainty and soaring mortgage payments. With home prices and in… Read more
In today's shifting housing market, sellers are asking nearly $39,000 more than buyers are willing to pay—the widest gap since 2020. Learn what’s driving the divide be… Read more
Home prices in the U.S. continue to climb, but the pace is slowing. February’s 3.9% annual increase signals a shift toward more sustainable growth, according to the FH… Read more
Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most