People are saying, "It's a great time to sell my house but if I sell high, I don't want to buy high. I want to sell high and buy low." That's the goal. But here's what you need to think about.
Yes, you can sell high right now because home prices are rapidly rising. Are home prices going to continue to rapidly rise the way they have been forever? I don't have a crystal ball, I'm not a psychic. So, I can't tell you 100% guaranteed, but if I look at history and stats, my gut says no. Homes aren't going to continue rising this rapidly for such a long period of time.
Here's both sides to that argument. The first thing to think about is, if home prices slowed down, it could be a great time to buy, right? Because now home prices aren't going to rise consistently, but also, interest rates will likely go up. They are already starting to climb.
So, the difference of buying now at a lower interest rate and maybe higher price versus buying later at a higher interest rate at still a higher price. If you look at real estate historically, prices do grow.
Let's look at a 30 year trend. Your home that you bought for $80,000 back in the 80s or 90s is worth $500,000 today. Over a 30 year trend, your home prices have grown. Interest rates have gone down because back in the 80s and 90s interest rates were around 10 or 11%. Now they are around 3%, 3.5 maybe 4%.
Prices have gone up, interest rates have gone down. Right now, because interest rates are so low, they're going to rise a little bit. Prices are going to continue to rise, so what's going to happen? You're going to pay more on both, home price and interest rate. This is something
Sell now, buy now, no one can answer that question but you.
If you have any questions on any of this, give me a call. I have lots of content on my YouTube channel. Make sure you head over and search for Lynea Carver. And remember, whether you're buying a home or selling a home, it all starts with a dream. Let's dream together.
206-962-0247
lynea@lyneacarver.com