I get asked this questions a lot! How can this be so? Well, because buying or selling a home is a very personal thing. No situation is the same. People are different and have different desires and needs.
We hear and read so much contradictory information about the market, it can be confusing. The information coming at us is uncertain, so it’s no wonder that people are uncertain about what to do.
We have all read about the great reasons to buy:
- Interest rates are at historically low levels
- There is a good supply of homes for sale; prices are still at affordable levels
- If interest rates go up 1% you can afford about 10% less in price
- It’s a great time to buy investment property, or a second home
What are the reasons to sell now?
- If you are going to move up, you will come out better in the long run. You may sell at a price that’s lower that what you want, but you will also be buying a home at a lower price than you could have a few years ago.
- If interest rates go up a percent or two, prices will probably come down further. And, rates are expected to go up.
- Investors are still coming into our area, San Diego, with cash. 28% of the sales in San Diego County last year were cash sales, many from out of state buyers.
- Most importantly, where do you want to be for the next one to eight years? If you are happy where you are, great! But if you want to move during that time, do it now!
I recommend that you obtain the information you need to make a good decision for you and your family, not what’s good for your friends or neighbors. Talk to a professional about the market, look at the numbers, see what makes sense for you!