Why You Should Sell Your Home in 2020
If you are thinking about putting your home on the market, why wait? 2020 is the year to do so! We have curated the top 3 reasons why you should sell your home in 2020.
Lowest Mortgage Rates in 50 Year History
Due to effect of the coronavirus, mortgage rates are at an all time record low in 50 year history. Don’t let this completely alarm you about the housing market however. These record low rates are prompting Americans into refinancing activities to take advantage of the low interest rates, which can bring savings. Now is the time to look into securing a low mortgage rate while you can. As Tendayi Kapfidze, a chief economist at LendingTree said, “Almost anybody should be checking if there’s an opportunity to refinance.”
John Makarewicz, President of Mark Spain Real Estate, said “rates are ridiculously low right now as the Fed has reduced them dramatically to try and assuage fears on Wall Street. Sellers on the fence should consider listing to take advantage of the buying frenzy that is already underway.”
There Are Still New Buyers in the Market
No matter what kind of housing market we are in, there will always be people who need a place to live. Even though selling a home home may be an unpopular move right now, there will always be someone looking to buy a home. Whether it’s increasing to a family sized home, moving for job offers, or people who are confident in their job security, these kinds of buyers are hungry and always looking at the inventory in the market.
With the current state of the housing market right now, these buyers are acting smartly in a way to achieve a stable monthly housing payment as well as record low interest rates on a new home.
The Future is Unclear, Sell Your Home Now
There’s no telling what the next year holds for us in the housing market. If you are itching to sell your home, why wait until next year or the years after that? There may be economic changes that may make selling your home in 20121 less desirable! There is still time in 2020 to make any necessary upgrades or changes to your home, prepare for a move, and ultimately find the perfect dream home for you.
Want to sell your home or buy a home fast? At Mark Spain Real Estate, we have combined real estate experience than any other team in the Southeast. Contact us today and let us help you during this unexpected time!