We all know that “spring market” is typically the best time to sell a home. The flowers are in bloom, curb appeal is at its best, and many people prepare to move over the school summer break.
This year there are new reasons why the spring market is best for both buyers and sellers. We have seen some interest rates as low as 4 5/8% which may be a historic low. Home prices are once again at more realistic numbers and the recent Stimulus Package created new opportunities for First-Time Buyers by providing up to an $8,000 tax credit.
While this sounds like all good news for the buyer….it is actually great news for the home seller as well. In February the National Association of Realtors said there has been an increase of 5.1% in existing homes sales, the largest jump since 2003. It takes both a buyer and a seller to make every transaction occur. More buyers equal more opportunities and better offers (when your home is priced aggressively). Remember…it is all relative so while your home value may have gone down, so did the value of the home that you will be buying. You may also be upgrading or downsizing to a new lower interest rate as well, or just eliminating unmanageable mortgage payments altogether.
Call your local area expert at Coldwell Banker Township Realty when you are ready to buy or sell a home.
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