Should you wait until Spring to sell your home. The most common answer would be YES. I mean, think about it. The weather is nice, everyone is getting out and about, and the flower and trees are green, which makes for nice curb appeal. Seems the answer is obvious. But, what if I told you that the handful of buyers that are able to buy your home now might not be able to purchase your home in the Spring.
So here's how it works.....
Buyers seek out a lender. Current mortgage rate right now is about 4.5. They turn in all their information: check stubs, loan amounts, payoffs, etc. The lender then determines their debt to income ratio and then tells the buyer based on all that info how much home they can afford. Now let's imagine the magic number the lender gave the buyer is how much your home is worth today. Great!
But you didn't list your home...
Below is a chart of how rates are projected to rise in 2019. The interest rate in April '19 is projected to be about 5.09.
Those serious buyers, the ones searching for homes on top off all the added holiday stress, the ones willing to get out in the cold, are no longer able to purchase your home.
According to my research, an estimated 52 homes will be sold in our small Lake Martin community in the month of December. The odds of your home being one is zero if your home is not on the market.
How does your home compare to other homes that are currently listed in Lake Martin?
See the list of 3+ bedroom, 2+ bath homes currently active and a list of homes under contract HERE.