Time to move up
Thursday, December 18, 2008
Have you outgrown your home? Or want to live in a better area? Now is your chance.
You say you want to wait until the market gets better? Let’s explore this a bit.
With interest rates at 4.75% today, you can get an incredible fixed rate mortgage on your new home. Rates may never be this low again.
You may be worried that your current home has lost some of its value.
As long as you purchase your new home at today’s market value, selling in today’s market should make perfect sense. "Bubble for Bubble, Bust for Bust" is a motto that makes sense to me.
Remember that your real estate taxes are based on the sales price. If you wait for values to go up, you will have a higher assessed value.
In order to get the new home, you have to price your current home to sell quickly. You will want to speak with a lender as soon as possible about qualifying for your new loan. It is getting harder to own two homes at the same time, so you need a good strategy going in.
Talk to a Realtor about your options. Now may be the perfect time to move into the home of your dreams.
