January and Feb are usually a good time to sell arent they?
2007-01-18 02:01:14 · 10 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Interest rates are still really low. I'm selling a house, but waiting until March to put it up. The market I'm in should be picking up nicely then. It all depends on your local market. Realtor.com has a "Market" link so you can check out the opinions of local realtors.
2007-01-18 02:20:27 · answer #1 · answered by Shane 5 · 1⤊ 1⤋
Interest rates did go up but you have to remember where they were when they went up. Many people refinanced their homes in the 5% range when they hit their lows and that was on fixed mortgages. Now there is this nationwide scramble to fix those variables that were in the 3% range.
Currently a 30 year is around 6% if not better. That's still fantastic compared to when I purchased my home in 95 at 7.5% and I thought that was great. hahah
The ability to sell your home will not be based on the rates at this time because they are still desirable. What will be the driving force will be the market in your area. If your community is a growing area with new jobs and ever increasing need for housing then the demand for your home will be high thus keeping the prices up there and prevent you from reducing the price.
Take a look at your community around you and the overall economy there. If it's booming with new construction, remodels in your neighborhood then things should go well.
The Fed is expected to hold off of raising rates because at this time inflation is currently in check. Rates should stay the same if not decline somewhat.
It's a good time to sell and buy.
2007-01-18 02:34:33 · answer #2 · answered by Lee P 2 · 2⤊ 0⤋
Most markets have seasons when more people are looking and more people are selling. That is normally the best time to sell or buy. Liquidity is the greatest is how the folks in the stock market would label it.
The best time to buy or sell is otherwise when you need to do so. If you are moving then you might want to sell or buy. If you are an investor then you try to time things to match your void periods, or your tax situation or when the market is most active.
Interest rates are a factor but they are not the deciding factor. Higher rates normally means fewer buyers who can afford the payments compared to the period right before. It can also mean that people who used to be looking at houses priced above your property might not be willing to look at your property.
Basically your mileage will vary when it comes to interest rates and selling a house. Price the property at the right level and it will move quickly all other factors being equal. Over price it and it will not sell even when the interest rates are low.
2007-01-18 03:00:48 · answer #3 · answered by Anonymous · 1⤊ 0⤋
maybe maybe not too many factors in today's market to give an accurate reading,
How long have you own? how much equity have you built up? are you looking for a realistic price in this market or looking for that one right person who will understand that your house is really worth x while others in the area sell for -x, close to big city, in a redevelopment area of just another house on the block, in a vacation town, etc
if going to sell, talk to many re agents not just one, nor pick the one who says of course i can sell for x even though the majority of agents have said -x
2007-01-18 02:24:04 · answer #4 · answered by goz1111 7 · 0⤊ 0⤋
I would say that spring is a better time to start selling a home.
At this time the housing market is flattening out & it will be harder in most areas to sell for a higher price.
If you are looking to move some where that you would like better you just put you house on the market & hope for the best.
2007-01-18 02:13:29 · answer #5 · answered by Floyd B 5 · 2⤊ 0⤋
The housing market is regional. If you live in Vegas or LA or Atlanta, you probably have a ready list of prospective buyers. If you live in Detroit, South Chicago, West Philly, South Dakota or anywhere else where there is an exodus, its a bad time to sell. Trying to time the housing market is folly. If you need to sell then sell. If you need to buy, then buy. You'll drive yourself crazy waiting for the right moment.
2007-01-18 02:15:00 · answer #6 · answered by davidosterberg1 6 · 1⤊ 1⤋
interest rates could carry on rising & people have been predicting housing crash for years.
Also there are many conversions into flats and lots of available greenbelt land which might increase supply.
However REITs will increase demand and banks will continue offering many times salary mortgages as they sell the risk on to hedge funds anyway.
The best season to sell is spring, I suggest you get out soon but it is not an emergency.
Remember if your selling your probably buying as well.
2007-01-21 05:02:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Rates have come back down. They were pushing 7% and have eased back to around 6%.
Not sure where you live, but in most regions of the country coming into spring is the best time to sell.
2007-01-18 03:49:03 · answer #8 · answered by Anonymous · 1⤊ 1⤋
It is a good time to sell it will not get any better since the market is in for a long down turn and in some place out right crashing.
http://www.breakingbubble.com/index.htm
Good luck
2007-01-18 09:25:20 · answer #9 · answered by Anonymous · 0⤊ 1⤋
there is never a bad time to sell a house, just like there is never a good time to BUY a house.
You just do what you need to, to get through life.
2007-01-18 02:04:08 · answer #10 · answered by Not Ecky Boy 6 · 0⤊ 1⤋