Do you really need to move this year? (Like, really really?) If the answer is no, or even falls into the “Ehh, maybe?” category, we recommend that you don’t sell.
Why? The tight housing inventory situation the US has been facing over the last few quarters shows no signs of changing dramatically anytime soon. As a homeowner, you stand to enjoy some nice appreciation on your home this year, and real estate experts (like us) are predicting continued appreciation into next year as well. (Beyond that, our real estate crystal ball is a bit foggy.) If you are still considering real estate decisions that may impact you and your family this year, here are a few factors to think through, directly from a team of knowledgeable real estate professionals.
Record-Low Mortgage Rates and New Construction Inventory
As we’ve stated, the massive demand from buyers will continue as long as mortgage interest rates stay low and builders aren’t able to build enough new housing units to meet the demand (Side note: Builders are not building enough new homes anywhere you look). If you absolutely must move, one option is to consider a bridge loan from your current mortgage to take some money out for the down payment on your next home.
How Do I Buy My Next Home In A Competitive Market?
If a bridge loan isn’t an option for you or you just want to sell and compete for the next home, then you will need a team of proven winners who know how to get the best results in today’s chaotic market. You will want a real estate professional who knows how to leverage unique offer terms, special stipulations, financing options, and good old fashioned negotiation skills to accomplish your goals of buying after selling.
With the right team and proper preparation, you can achieve your goals of selling and buying in today’s market!
For Homeowners Who Don’t Want to Sell
Love where you live? Lucky you! If you haven’t already over the last 12-15 months, we recommend looking into refinancing your mortgage as soon as you can. Rates are amazing in the current market, and many homeowners can benefit from considerably lowering their current rate, depending on their credit score and loan term.
Need help finding a mortgage broker? We’re proud to work with some of the best lenders in North Metro Atlanta, and our talented team of real estate specialists can help pair you with someone who will guide you through all the steps to refinance your home.
Have other real estate questions? Let us know how we can help! Even if that means connecting you with the right person to fit whatever local real estate need you may have, trust our team to help you find your path. Let’s make the rest of 2021 the best it can be!