Thinking of Selling? Now May Be The Time

Posted by Pearl Realty on January 28th, 2015

Thinking Of Selling? Now May Be The Time

 

It is common knowledge that a large number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their home on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months and days of the year most people list their home. Here is a graphic showing the results:

 

The circles represent the ten most popular listing dates in 2014. We can see that all ten…

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Did it Make Sense to Wait?

Posted by Pearl Realty on January 12th, 2015

Did it Make Sense to Wait on Purchasing Your Next Home? 

There are many people out there who debated purchasing a home over the course of the last year, but ultimately did not. Whatever their reasons were for delaying, let’s look at whether the decision to wait to buy made sense.

What happened in 2014?

The 30 year fixed rate on January 2, 2014 was 4.53% as reported by Freddie Mac. Looking at the chart below, your monthly mortgage payment with principal and interest for a $250,000 home would have been $1,271.17. Even though interest rates have dropped below 4% and ended 2014 at 3.87%, home prices appreciated by 4.8 percent over the same time according to the Home Price Expectation Survey. So that same home appreciated by $12,000 and now costs…

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