Can You Afford NOT To Sell Your Home?

By
Real Estate Agent with The Maine Real Estate Network

moving on upYou have decided that you want to move.  

Maybe you need more space, or less space, would like a different location, need a new project, would like to leave your current project, want to move into the city, or out to the country.  No matter what your motivation for moving, many people end this train of thought with...

“Can I afford to sell right now?”


Rather than ending your dream of moving, I would encourage you to spring forward into action by asking yourself:  “Can I afford NOT to sell right now?”

Unless you are truly upside down with your current mortgage, now is one of the best times to sell your home and move into the home you have always wanted.

What do you really want/Why Now?
Buyers are waking up! Activity in the market is at a level we have not seen in a long time.  Well priced and prepared homes are selling quickly and sometimes even with multiple offers.

Interest rates are still incredibly low!  Do you have a 6 or 7% mortgage right now?  You can sell your home and buy one with today’s lower rates (often 3.25%-4%.)  That means you can buy more house for the money, enabling you to get what you truly want.  A $200,000 home with a mortgage payment of $1600/month at a 7% rate, may only have a $1250 monthly payment at a 3.5% rate*.  Have some fun here playing with loan amounts and interest rates to see what you could afford for your next home.

Competition is low.  Now that buyers have really started hopping, homes are selling faster.  Many potential sellers are “waiting until prices go up” even more before putting their homes on the market.  Sadly, that means that prices will go up on the homes they want to buy as well.  However, this leaves the door wide open for you to sell your home.

Let the others wait and miss out.  You know what you want.  You are the one with vision and an eye for opportunity.  Can you really afford NOT to sell now?

Other Posts That May Interest You:

In The Absence of REAL Marketing, There Is Syndication

Decision Time For Cash Buyers:  Small Loan Or Investment?

Want Top Dollar For Your Home?  3 Sure Fire Tips


*rates listed are PITI taken from a handy online mortgage calculator.  Be sure to check in with your local mortgage broker for the latest and most detailed rate information.

Posted by

The Maine Real Estate Network - Kristen Wheatley - Lewiston-Auburn Maine Real Estate

Maine Realtor Kristen Wheatley  

Kristen Wheatley is a Maine Realtor working and living in Central Maine.  She specializes in the sale of residential and investment property in the Lewiston-Auburn area and surrounding towns.  Kristen uses the latest tools and mobile technology to provide a superior experience and results for her clients and enjoys sharing these technology skills and teaching other real estate professionals and local small business owners.

The Maine Real Estate NetworkKristen Wheatley, Associate Broker
The Maine Real Estate Network
34 Center Street - Auburn ME 04210
mainehomeseller@gmail.com
207-240-2250     www.lamainerealestate.com

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  1. Charles Stallions 06/30/2012 04:48 PM
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Rainmaker
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Li Read
Caring expertise...knowledge for you!
Sea to Sky Premier Properties (Salt Spring)

That lack of buyer competition is a key component...good post!

May 07, 2012 09:52 AM
Rainmaker
512,499
Jill Sackler
Long Island's South Shore Real Estate Agent
Charles Rutenberg Realty Inc. "Said and Done!"

I always tell people that because of the economy- if you sell for a little lower than you thought, you'll also buy for a little lower than you might have at another time.

May 07, 2012 07:39 PM
Rainmaker
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Kristen Wheatley
Lewiston/Auburn Maine Real Estate Agent
The Maine Real Estate Network

Thanks Li.  We thought with our early spring that people would jump onto the market early, but that hasn't happen and it leaves it wide open for those who want to sell.

So true Jill.  And adding in today's interest rates, gives them even more buying power.

May 08, 2012 05:45 AM
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Kristen Wheatley

Lewiston/Auburn Maine Real Estate Agent
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