Are you thinking that this may be the time to sell your home? Well here’s something that might help you make that decision.
A recent report says that, contrary to the mid-2000s, many people have positive equity in their homes. Due to the housing bubble from over 10 years ago, housing prices fell and people were left in a negative equity situation. And if you’re in a negative equity situation, that means that it’s almost impossible for you to sell because you won’t get enough from the sale of your home to pay off your mortgage.
And the alternative would be to do a short sale. And a short sale messes up your credit and does not allow for you to purchase a home for a few years.
But now with all these people having their homes changed into a situation where they have positive Equity, they have enough that they can use their Equity to purchase a new home. So now in addition to the buyers that were out there that were chasing the few available homes on the market, you have more people out there who have the ability to purchase a home.
So if you’re thinking about selling anywhere soon, give us a call. We can help.