Presently, many other homeowners feel stuck in
their homes yet they don't really understand the effect of waiting to sell and
how it is affected by interest rates.
Here is how 5 percent increase in the market can
really cost you:
Let's say a couple is in a two hundred thousand
dollar home and they want to wait until the market goes up 5 percent in order
to get $210,000 because that's where they can make ten thousand dollars.
The trade-up home their looking at cost 350,000.
If they apply that same five percent and that home is going to go up to 360,750,
so instantly waiting for ten thousand dollars is going to cost them over
seventeen thousand dollars. Now they’re already behind by waiting for the
market to increase when trading up.
The most essential thing is to look at the
impacted interest rates. Let’s say the
current home was acquired for two hundred thousand dollars and all of these
numbers are based on 100 percent financing. So their current monthly payment for
a thirty-year mortgage is $1,340 dollars. If they purchase their new home now
for $350,000 at a 4 percent interest rate then their monthly payment is only going
to be 1,670 dollars that only a $330 dollar-a-month increase for such a step in
increasing their lifestyle possibly doubling the square footage of their home.
Let's say they wait for the market to return to a
higher price or when the market goes up we know the economy is getting better.
However, when economy gets better the FED is not going to subsidize the
interest rate so seven-percent is probably even optimistic because
traditionally and historically interest rates run about 10 percent. As for point
of illustration lets say 7% what they're getting right now their mortgage
payments can be $2,444 dollars a month so first they lost. 17,500 just by
waiting because the increase in their higher priced home is going to cost them $775
dollars a month more to live in that new home instead of three hundred thirty
dollars a month.
At CATALYST
REAL ESTATE EXPERTS we offer our exclusive Builder Trade Up Program
The Builder Move
Up Program is especially suited for growing families that need
more space to accommodate their evolving lifestyle.
With the Builder Move Up Program, you’ll be able
to buy your dream home, while saving thousands in commission dollars on the
sale of your home.
Get an exclusive Builder Trade Up Program
from
Catalyst Real Estate Experts
How Does It Work?
1. Register to get started in the program
2. Meet with a Established Listing
Specialist
3. Institute the proven marketing plan
4. List and sell your current home at a significantly reduced commission rate
5. Close on your new home and receive an additional
commission rebate
MAKE YOUR DREAM HOME A REALITY
GET STARTED TODAY by calling us @ 469-500-4663 or go online
Find Your Home's Value
INSTANTLY here - http://wayne.ourdallashome.com/sell.php
Catalyst Real Estate
Experts
Old school work ethic with
New school innovations!
569-500-4663
info@CatalystHomeSearch.com
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