Should you sell your house in 2019? By all indications, if you are wanting to sell, 2019 will be a good year to do it. According to U.S.News, “2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next,” it’s better “going with the devil you know rather than the devil you don’t.” So here’s what you need to know about selling a Snellville house in 2019. Home Prices Are Still Rising, But SlowlyThe first thing you need to know about selling a Snellville Ga house in 2019 is that home prices are still going up – though at a slower rate than previously. During 2017 and into 2018, home prices made a huge leap of 10%. While home prices are expected to continue increasing throughout 2019, it will be at a much more modest rate, somewhere around 1%. This slowing increase in prices can be attributed in large part increasing mortgage interest rates and the general economic uncertainty that obtains right now. The upshot is that many buyers remain uncertain about purchasing a home, and, as a result, price increases are slowing. New construction, though, is a different matter, with plenty of eager buyers and prices still moving upward at a good clip. This is all good news for sellers. First, when you sell your house, you are likely to make a decent profit. But keep in mind that you may have fewer offers because some buyers are being priced out of the market. And this means that you have to do more to stand out from the competition. The best course is to rely on your agent for preparation and marketing. (Find out more by calling 770-769-5295.) In addition, you will have to be patient about offers, not accepting the first one that comes along. If you wait long enough, though, you will probably get an offer at or near the price you need. Interest Rates Are Going UpAnother crucial thing you need to know about selling a Snellville house in 2019 is that mortgage interest rates are going up. They’ve been at a standstill for a few years, but are now on the rise. Financial experts expect interest rates to increase to around 5% for 30-year mortgages and about 4.4% for 15-year mortgages. It’s been nearly seven years since mortgage rates were at this level. This is actually good news, though, indicating a stronger economy. In order to stabilize this strong economy and stem rising inflation, the Federal Reserve has increased short-term interest rates. These increases then make their way down to banks and mortgage interest rates. Again, rising interest rates may mean you will have to wait a little longer to get a good offer on your house. It may also mean you can sell your house much quicker and get more offers. The reason for this more likely scenario is that buyers are eager to make a purchase before interest rates get any higher. The fact that buyers want to beat further increases can work to your advantage as a seller. The Millennials Are ComingWhat you also need to know about selling a Snellville Ga house in 2019 is that there will be a huge influx of new buyers – millennials. They are maturing and settling into solid careers, and they are ready to buy homes. Among millennials, the average household income has risen to over $80,000, so they are seeking to buy first homes in middle-and upper-middle-class neighborhoods. While baby boomers are retiring and downsizing, millennials will make up the majority of larger home buyers. Predictions are that in 2019 they will take the lead in the sheer number of mortgages at about 45%. As a seller, then, you’ll need to market to millennials. What you will need to do is partner with an agent who is savvy in online marketing because millennials are certainly Internet savvy. To cater to millennials, here’s just some of what you will need to keep in mind about them:
2020 Looks ShakyThe final thing you need to know about selling a Snellville house in 2019 is that 2020 doesn’t look all that promising at this point. “If not selling your home in 2019 means putting your house on the market in 2020, the sooner option is the best one. In a survey of 100 U.S. real estate experts and economists” by Zillow “almost half expect the next recession to occur in 2020” (U.S.News). Obviously, then, 2019 is the year to sell. If you’re ready, just contact us today at 770-769-5295.The post What You Need To Know About Selling A Snellville House in 2019 appeared first on Cash Home Buyers Atlanta. from https://www.cashhomebuyersatlanta.com/what-you-need-to-know-about-selling-a-atlanta-house-in-2019/
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November 2020
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