Is It Time to Sell My House?

Unless you’ve been living under a rock, you’ve probably heard that the economy is changing. You’ve certainly felt the impact of inflation at the gas pump and the grocery store. You may have even noticed the changes in the stock market if you’ve taken a recent look at your 401K. If you’re a homeowner, you’ve likely felt secure about the home you own over the last two years as record demand sent real estate values through the roof. If you’re wondering if it’s still a good time to buy or sell a home, here’s what you should consider.

 The Market is Shifting

This doesn’t mean you need to panic, but if you need to sell your home, you should act quickly. The Federal Reserve has raised interest rates twice already this year, and that the most recent increase was higher than most analysts expected. To pile on, another rate hike is expected in the coming months. This means that the cost to borrow money is rising. Simply put, buyers can afford less today than they could back in May.

For sellers, this means there are fewer people looking to buy a house right now. For first time home buyers on a budget, the higher interest rate may have priced them right out the market. For wealthier buyers looking at higher price points, the recent dips in the stock market may have significantly reduced their cash liquidity. For other would-be home buyers, they may fear that the real estate market has peaked, and they aren’t buying right now for fear of decreasing home values.

With that said, there are still plenty of families and individuals that need to buy a house, and they feel the urgency to do so because of rising interest rates. For homeowners that need to sell, that’s good news. From a practical standpoint, it simply means that there will be less interest in your property than there may have been two months ago. You might not receive multiple offers and your property might sit on the market a little longer.

For buyers, now is a great time to buy if you can afford the increased interest rates. You may have to settle for less house, but you won’t be competing in the hottest real estate market in history either. You’ll be more likely to land a deal and even gain a little negotiating power back on your side of the table.

But I Need to Sell My House FAST!

If you need to sell your house fast due to your personal situation, you have options. At Fulcrum Home Solutions, we buy properties in any condition from sellers facing any situation. Whether you need to sell because of a relocation, divorce, late payments, or you’re unable to keep up with deferred maintenance, our team will find the solution that is right for you. For many, that’s a cash offer with a quick and easy settlement.

Call or click today 267-435-9999 for a fast and fair cash offer!