To say we are in an uncertain market would be an exaggeration, I would say that the best economic minds available have had a difficult time getting predictions right over the past three years. In fact, they have probably gotten things incorrect for a much longer period if we consider what got us in the position we are in today. Many of friends and coworkers have foreclosed on homes, short sold them, or are even holding on to them and renting them out simply so they dont destroy their credit history. Can you believe that? Having bought a home a few short years ago would actually be a bad financial decision, I never once considered that, and from the looks of it many others didnt as well. Im personally not in the business of speculation, especially when it comes to my hard earned dollars, instead I can only educate myself and be as informed as possible. This is the premise I went on when I finally decided to pull the triggers and purchase my home back in 2010. Perhaps you find yourself wondering the same question as me, should you sell your house today while the market is still hot.
I cant say that I am a real estate expert, nor am I an experienced mortgage broker, but I do deal with numbers and financial decisions each and every day. In my limited experience I cant imagine a more attractive time to sell your current home and upgrade to a newer and nicer one if you have the means. Granted some people are perfectly happy in their current dwelling and that is perfectly fine, but if you have been pondering the possibilities of getting out soon then you should simply get out now. Low rates make affording your next home that much easier. There is still a lot of attractive inventory on the market that may get snatched up while the rates remain at historic lows. Attractive inventories and low rates are eventually going to push up home values, which may be great for your current home sale, but It wont exactly work in your favor when you are trying to purchase an even nicer home right after. You want to lock in a good rate and a rock bottom price while both are still available to you. Personally, Im thinking about selling now, and then renting for a short period of time while I peruse the real estate listings and find exactly what Im looking for. There may never be a better time when a homeowner no longer has to settle for anything less than exactly what they are looking for.