Money Talks News: Why You Should Sell Your Home Now
Fri, 21 Mar 2014 12:13:55 GMT —
Jack McCabe is a well-known real estate analyst. And he's a good one. How do I know? Because here's what he warned in a 2007 interview about housing prices nationwide.
"You're going to see some changing and some decline in prices in your market.
He was right. And while I didn't sell my house back in 2007, what I did two years ago, was buy another one...this one. Now I've got a nice profit, and I'm wondering if I should sell.
To find out, I went back to Jack and asked him: Is now the time to get out?
"Yes, now is a great time to sell and it's going to be for at least the next two or three years."
Why does he think selling is smart? Because in a few years the bubble could once again burst.
Probably by 2017, we're going to reach a flattening period, then we're going to see prices decrease again."
Now other economists disagree, but if you are worried about hits to the housing market - and what homeowner isn't - here are some signs to watch for.
First, rising rates: real estate hates em. Next, rising inventories of unsold homes in your neighborhood: ask an agent.
Then ask them about months on the market. If houses are sitting are the market longer, that's another trend that isn't your friend.
Bottom line? If you bought a house a couple of years ago for an investment, the easy money's probably been made. But if you're going to stay in your house for a long period of time, don't worry about market swings.
They don't really matter much. Now, you want more information on buying, selling or investing in real estate? It's waiting for you at moneytalksnews.com.
All you have to do is search for "Real Estate."
For Money Talks News, I'm Stacy Johnson.