Don’t Wait Too Long to Sell or Buy Your Home

You might think you’re buying time by holding off from purchasing or selling a home right now, but it’s more likely you’re wasting time and losing money.

Buyer

It might not be in your best financial best interest to wait to buy a home as home values are on the rise. The chart of historical listings below explain how this market continues to see healthy appreciation due to the low housing inventory. See Figure 1.

Based on statistics from the Grand Rapids Association of Realtors, a buyer who waited from 2015 to 2016 to buy a home, so that they could “save money,” actually paid $15K more due to the appreciation. “This also does not factor in how higher interest rates decreased their buying power in addition to the increase in average sales price,” said Scott Reilly, loan officer at Mortgage 1 in Grand Rapids.

Seller

On the other hand, as a seller waiting to list your property until home values go up more, or it’s summer, or whatever the case may be … be on notice: the time is now. According to GRAR, there is only 1.7 months of inventory on the market. This means there is very little competition and your home is likely to sell faster and for more money, if you list your property now with Sylvia Dana.


Figure 1


Figure 2

 

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Sylvia Dana
Realtor
Coldwell Banker AJS-Schmidt, 3744 28th St. SE, Grand Rapids, MI 49512
616-570-8864
Licensed In: MICHIGAN
License #: 6501400118
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February 10th, 2017 by