Are you planning to sell your house in Metro Detroit in 2022? As a Homeowner, I’m sure you don’t like the thought of losing money on the sale of your home. Unfortunately, waiting could decrease your bottom line.
Waiting To Sell Your House In Metro Detroit Could Cost More
As you plan out your goals for the year, moving to your ideal home may top the list. But, how do you know when to make your move? As I was preparing this blog, I had a considerable shock; Mortgage Rates jumped much higher than predicted due to inflation. You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when buying your new home. What you may not realize is that opportunity to get the best of both worlds is already here. Let’s review the 2022 Housing Market Forecast to get you started.
You don’t want to wait to spring into action. The current market conditions make now an ideal time to move. Here’s why.
1. The Number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale puts sellers in the driver’s seat. There are far more buyers in the market than homes available, which means buyers are eagerly waiting for your house. Listing your house now makes it the center of attention. As a seller, that means when you price your home correctly, you can expect it to sell quickly and get multiple strong offers this season. Just remember, experts, project more Inventory will come to market as we move through the winter months. The realtor.com 2022 forecast says this:
“After years of declining, the inventory of homes for sale is finally expected to rebound from all-time lows.”
Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers.
2. Your Equity Is Growing in Record Amounts
Thanks to today’s home price appreciation, current homeowners are sitting on record amounts of equity. According to the latest report from CoreLogic, the average homeowner gained $56,700 in equity over the past 12 months.
That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your home search, rest assured your equity can help fuel your next move. It may be just what you need to cover a significant portion – if not all – of the down payment on your next purchase.
3. While Rising, Mortgage Rates Are Still Historically Low
In January of last year, mortgage rates hit the lowest point ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve missed out on locking in a low rate. Current mortgage rates are still far below what they’ve been in recent decades:
- In the 2000s, the average mortgage rate was 6.27%
- In the 1990s, the average rate was 8.12%
- Freddie Mac is now over 4%
Experts Projections on Mortage Rates
Experts are projecting rates will continue to rise throughout this year. As the Feds pull out pandemic relief, they have shifted gears to combat inflation. The jobs market is strong and has low unemployment, so it just means we are moving to a more normal housing market. Remember, in the last 2 years you’ve had unprecedented gains in equity and you are putting more down on your new home. If interest go down you can always refinance at the lower rate. Still a huge Win.
💥 IMPORTANT 💥Know the Market and Protect Your Money ❗
👈👈👈 Video will help understand the market so you save money when you buy and make more when you sell.
The graph and trends are not just numbers they represent your money.
To succeed in an ever-changing market, I believe education is key. I don’t know about you; I don’t want to spend more than I must when I buy. More importantly, I want every penny I’m due when I’m selling as well. So, know the trends.
Peek into my Crystal Ball ~ With a massive spike in interest rates, it will be crucial to Know the Market You’re In. I’ve provided 3-year live Home Price trends by city and price range. Also, 3-year live graph regarding the housing inventory and how strong your negotiation is. You also have access to custom data for Sold Homes, so you don’t have to rely on Public Websites Estimates.
4. Home Prices Are Going To Keep Rising with Time
According to industry leaders, home prices will also continue appreciating this year. While experts are forecasting more moderate home price growth than last year, it’s essential to note prices will still be moving in an upward direction throughout 2022. What is throwing off our predictions will the Feds get inflation under control and Mortgage rates. We are now at Q4 2022 mortgage interest rates, and they shot up much faster than predicted. We could see a shift in the market and home prices. I will be providing an update after the Feds meet on January 26th.
What does that mean for you?
If you’re selling so you can move into a bigger home or downsize to the home of your dreams; you want to consider moving now before rates and prices rise further. If you’re ready, you have an opportunity to get ahead of the curve by purchasing your next home before rates climb highe
Your 🔑 To Home Selling and Buying Success ~ Safe PDF Guides
👈👈👈 Watch Video for Sneak Peak
Don’t muddle through the Home Buying and Selling Process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process.
It also involves the most significant financial transaction you probably will make in your lifetime. Your Buying Guide…will walk you through tips, strategies, and how to understand the numbers to strengthen your negotiation power.
Your Selling Guide…It will help you work through the selling process using the latest in high-tech market tools, so you make MORE Money. Our goal is to separate your home from the competition, keep Buyers focused on your house. The Selling Guide is very detailed and works step-by-step, so you’re guaranteed Top Dollar for your home.
Bottom Line: Sell Your House Now vs. Waiting
If you’re considering selling to move up or downsize, this may be your moment. With the Mortgage Rates higher than anticipated for Q1 2022, I will need to monitor how that will influence the housing market. If Inventory stays low, this will help keep prices stable. I recommend you keep up to date by following Metro Detroit Housing Market Updates to track your City and Price Range trends. Let’s connect today to get set up for homebuying success sooner than later.
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend 🛑Doing This!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
Have Questions?
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