Sellers! Sell Now Before the Interest Rates Go Up!

By
Real Estate Sales Representative with Keller Williams Cornerstone Realty
http://actvra.in/G4T

Sellers! Sell Now Before the Interest Rates Go Up!

 

Interest rates are hovering at historic lows of ~3.5%. Historical interest rates are 6-7% and have been as high as 15-18% as recently as the 1980s.

U.S. Wins Gold!

A 1% interest rate increase, translates into a roughly 10% increase in the price of a home or monthly mortgage rate. That means that a home that is currently worth $100,000 will be $110,000 or $120,000 with a 1-2% interest rate increase. A monthly payment of $700 will be $770 or $840!

 

With so few buyers today able to qualify for a mortgage or willing to even buy a home, imagine what would happen with a 1%,2% or 3% mortgage rate increase?

 

It would price many buyers right out of the market!

 

The average appreciation of home prices for the last 50 years is 3-4% annually.

 

So does waiting 1 or 2 years for prices to increase make sense if the equivalent price increase to the buyer is 10-20%?

 

Sell now before your home loses more value!

 

Call the team that gets them sold!

 

Call The Ruiz/Miller Team!

 

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Topic:
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Tags:
buyers market
home prices
mortgage interest rates

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Rainmaker
613,318
Bob Miller
The Ruiz/Miller Team - Ocala's Dream Team
Keller Williams Cornerstone Realty

Thanks Faith!  I will check them out!

August 08, 2012 08:02 AM
Rainmaker
232,992
David Grbich
Realtor Orange County Real Estate
Ventana Coastal Properties - www.FindCARealEstate.com

Great post - low interest rates are a good reason to not put off buying or selling today! Regards Dave

August 08, 2012 08:31 AM
Ambassador
1,354,891
Kathy Streib
Home Stager - Palm Beach County,FL -561-914-6224
Room Service Home Staging

Bob- the possiblilty of rising interest rates is always a good signal that it's time to buy. 

August 08, 2012 08:37 AM
Rainmaker
1,280,214
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

Election time usually keeps the rates down, but we could see an increase right after - NOW is the time to buy!

 

August 12, 2012 06:08 AM
Rainmaker
613,318
Bob Miller
The Ruiz/Miller Team - Ocala's Dream Team
Keller Williams Cornerstone Realty

Thanks Joan.  I suspect a lot will change after the election.  Not so much Washington, but those waiting to see what will happen in Washington.

August 13, 2012 02:06 AM
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Bob Miller

The Ruiz/Miller Team - Ocala's Dream Team
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Author Bio: Let The Ruiz/Miller Team 45+ years of finding solutions; solve YOUR real estate needs. We SELL homes! Find your dream home or a great investment! Can we sell it? Yes we can! Call us today 352-547-1086 Get 2 Realtors for the price of 1!

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