Home values are still rising in most places, and mortgage rates are still near historic lows. So why do we keep talking about it? Low rates can equate to saving money and rising prices can equal growing wealth. If you are planning on selling your home the following factors can help make this a financially beneficial experience.

1. It’s a seller’s market. Buyers have been shopping longer and waiting for a hoped-for surge of spring listings. Since this has not yet manifested some buyers are more willing to pay a higher amount for something new to the market.

2. The price must be right. It is going to be more important than ever to work with an experienced, real estate professional who understands your local market. You will need to price your home at the going market rate that reflects not only the value of your home but the neighborhood where it is located. Price too high, and there will be little interest in your property; too low, and potential buyers may wonder what hidden issues your property may have.

3. Going up. Mortgage rates also have a significant effect on the dollar figure that you use to price your home. While mortgage rates have been historically low in order to make homes more affordable, this is a trend that will most likely be ending in the near future. The Fed’s interest rate increase in December hasn’t had an appreciable difference on mortgage rates, but this will most likely not always be the case. Be aware that as mortgage rates increase, the amount of home that a buyer will be able to afford will decrease.

4. Listing during peak season. Take full advantage of the old rules of supply and demand. When the most people are looking to purchase a home is the best time to put yours on the market. The spring and summer months between April and June are generally the hottest time for buyers and a great opportunity for you to take advantage of potential bidding wars and faster sales.

5. Hire the right Real Estate Professional. With your home being one of the most important investments you’ll ever make, it is important to hire a real estate professional who has their finger on the pulse of the market and can help make your transaction an educated one.

Whether you’re in the market for the sale/purchase of your primary residence or an investment property, give me a call today to discuss your options.