Sell now before rates go up, because those same buyers today will not qualify for the same loan amount a year out! Win-Win, Sell-Sell!
Past Blog Reminder: A couple years ago when rates were around 5.375 percent, someone making $50,000 per year might qualify to borrow about $230,000. By putting 20 percent down, that’s a final sales price of $290,000. Right now, just about twenty-four months later, interest rates are closer to 3.25 percent. That same buyer making $60,000 per year can qualify for $300,000 loan for a unit selling for $375,000. MORE HERE