Is it time to sell your home?

If you own a home, hearing that “this is a sellers market” may pique your interest. For months, the limited supply of homes on the market gave sellers an advantage as buyers sought to lock in historically low mortgage rates.

But is this still the case? In January, Fannie Mae published a study on consumer confidence in the housing market which found that consumers had taken an increasingly pessimistic view of the conditions of buying and selling a home against a backdrop of housing. uncertainty related to the pandemic.

In fact, the percentage of respondents who say it’s a good time to sell a home has increased from 59% to 50%, while those who think it’s a bad time to sell has increased from 33% to 42 %. This drop in the sales side, the first since April, suggests that potential sellers can wait to list their homes.

As homeowners tackle the COVID weather, inventory could tighten further, creating an opportunity to get the best price for your property. Visit Credible to connect with experienced loan officers and get your mortgage questions answered.

Is it time to sell your home?

Are you considering selling your house? It might still be a good time. As sales of existing homes in 2020 hit their highest level since 2006, prices followed suit. The National Association of Realtors (NAR) reported that the median selling price of existing homes was $ 309,800 in December, up 12.9% from a year earlier. With prices soaring, homeowners are wondering if this is the right time to move.

Tania Isacoff Friedland of Warburg Realty thinks so.

“Over the past few weeks, I have represented both buyers and sellers in several auction wars,” she said. “There are motivated buyers who are eager to buy.”

Whether you’re looking to buy a new home or refinance your existing mortgage, use the Credible online marketplace to analyze the numbers. Insert simple information into Credible’s free tools to see what mortgage rates you qualify for.

Compass Real Estate real estate broker Michael J. Franco agrees.

“There is a shortage of inventory in many markets, which makes it a good time to sell because supply is limited and demand is always there,” he said.

While this might seem like the perfect time to sell your home, once you do, you will need to determine where you will be living. Remember, the same limited supply that increases the desirability of your home can impact your search for a new home.

Whether you’re considering a move or ready to refinance, use Credible to browse mortgage companies and compare loan rates without affecting your credit score.

WHY IT IS A GOOD IDEA TO REFINE WHILE MORTGAGE INTEREST RATES ARE LOW

How can I add to the value of my home?

If you choose to wait to sell your home, you may be looking for ways to increase the value of your home.

Buyers are intrigued by the listing of photos and want to make sure the selling price is correct. Upgrades considered to be capital improvements are tax deductible. Not to be confused with repairs, capital improvements, as defined by the Internal Revenue Service (IRS), are permanent improvements to a structure or property that improve features, use, or extend life useful life of the building.

REFINANCE RATES DROP TO UNPRECEDENTED LOWS IN 2021

Home Improvements Are They Worth The Investment?

Home improvements may be worth it if you want to appeal to a potential buyer. Check if your house is in marketable condition before uploading the listing photos. A few tweaks here and there could cause prices to rise and help you sell your home quickly.

“Upgrading the kitchen and bathrooms can make a significant difference in getting you the highest possible price when you go to sell,” said Isacoff Friedland.

Installing new windows or exterior doors increases the value of your home while making it more comfortable for the duration of your stay there.

Interested in doing renovations? Visit Credible to compare personal loan rates and find a lender to finance your next real estate project.

4 WAYS TO MAXIMIZE YOUR MORTGAGE REFINEMENT SAVINGS

How to take advantage of current mortgage interest rates

If you are thinking of selling, this might be the time.

Amid the coronavirus pandemic, mortgage rates have fallen to historically low levels. As rates rose slightly in January, the Federal Reserve announced its intention to keep long-term lending rates low indefinitely. Since the 2008 recession, mortgage rates have barely exceeded 5%, and the NAR predicts rates will average 3.1% in 2021, up from 3% in 2020.

“Mortgage rates are slightly higher now than when they bottomed last summer,” said Melissa Cohn, an executive mortgage banker at William Raveis Mortgage. “The Democratic-led Senate and the release of COVID vaccines are the main reasons rates are rising. Mortgage rates will likely stay where they are for a few months as the pandemic continues to ravage the economy. “

“The only way is to get a new mortgage,” Cohn said. “If you already own your home, now is the time to consider refinancing. Refinance rates are not as low as purchase mortgage rates. But for a homeowner with good credit and a decent value loan – usually when the mortgage is less than 75% of the home’s value – you can certainly lock in a rate below 3%. Or even nearly 2.50% today. “

Use an online mortgage refinance calculator to estimate your new monthly payments. You can also compare mortgage interest rates and lenders using Credible’s free tools.

IS CASH-OUT REFINEMENT A GOOD IDEA?