2016 BUYER AND SELLER CONSIDERATIONS:
Thinking of Buying or Selling a Home?
After over a decade of historically low-interest rates below 4%, the window for both buyers and sellers to take advantage of moving with the best rates they may ever see in their lifetimes is rapidly closing. Consider that average interest rates since 1970, have been between 7.5%-8.0%, and you can appreciate just how high the rates can go. The thought by any buyer of giving the banks hundreds of dollars more each month for the same house they can buy now should be powerful motivation to move forward with a home purchase now, as opposed to waiting. Home Sellers should also keep in mind, that the higher the interest rates go, the smaller the pool of buyers that will qualify for a home. In addition to rising interest rates, other issues such as a volatile stock market, struggling economic recovery, rising taxes, and political unrest, should also be of concern to prospective home sellers. Keep in mind, any one of these issues could make it more difficult to sell and have an adverse effect on the sales price of a home.