Thinking about selling an investment property, downsizing or relocating? Should you wait to see if prices rise? Here are some reasons why you should not wait for tomorrow:
- Shrinking Buyer Pool: Interest prices are rising and are expected to continue rising for the duration of 2022. This means less buyers will qualify to purchase, which will likely lead to less demand for homes. Less demand equals lower purchase prices and seller leverage.
- More payments, less profit: The longer you wait to sell, the more mortgage payments, house repairs, electric bills, insurance payments and taxes you will pay with NO GUARANTEE that you will net more profit in the future.
- Strong Market: No doubt, as of today, we are one of the strongest sellers’ markets in history. Even if you just purchased last year, you may be in for hefty profits if you decide to sell today.