Should You Fear Today’s Real Estate Market?

 

If you’re thinking about buying, buying a home is the right move, right now. Year-to-date, Charlotte region home prices increased 16.2%, on average. (That’s TWO TIMES the appreciation from one year ago.) Meanwhile, home affordability has decreased 12.9%, on average. The longer you wait, the more a new home will cost you. Home prices will continue to appreciate, while interest rates are also expected to increase. That increases both the purchase price of a home and of a mortgage. The chart below shows the “cost of waiting” to lock in a home purchase price and interest rate for a $400,000 mortgage. (To see the cost of waiting in all price ranges from $100,000 to $1,000,000, click here.)

 

 

 

 If you’re thinking about selling, selling your home is the right move, right now! Homebuyer demand remains strong. In the greater Charlotte region, inventory is down by 37% compared with last year. With homes selling more quickly, home sellers are in the driver’s seat in terms of negotiating price and terms for their homes. It’s also a great time to “cash in” on your home equity, which can help you in various ways.

 

 

 

Fear should never be a motivating factor when navigating the housing market, even in a seller’s market. If you’re scared of buying a home this fall, work with an experienced real estate agent. You won’t get TRICKED, and you’ll end up with the best TREAT of all – the keys to your new home.

 

Fear should not keep your from selling your home. Your trusted agent can also ensure you won’t get TRICKED and that you’ll end up with the best TREAT of all — a home sale at top dollar and terms that meet your specific needs. If you’re worried about whether you can buy and sell at the same time, here are 9 Tips On How To Buy And Sell A Home At The Same Time.