Manage episode 350785428 series 3399080
Is now still a good time to buy or sell?
The short answer is - yes!
Of course, it depends on who you are and your perspective, right? If you are a first-time homebuyer and you've been trying to buy a home for a year or more, you've seen interest rates almost double. That might seen insane but yes, it is STILL a great time to buy? Why you ask? The interest rate is high but home prices aren't ending up $10k, $20k, or $50,000 more than the list price.
As Dave Ramsey said recently - date the rate, marry the home. Don't hold off on buying the home just because the rates went higher than when you were shopping last year. They will come down and when they do, refinance the rate.
For home sellers, now is STILL a good time to sell! Some will tell you to hold off, or wait for the collapse. The truth is there won't be a collapse, but home prices are starting to decline. Demand is still high and inventory levels keep flirting with all all-time lows. So you might not have 7 or 12 competing offers, but over the last few years you have gained more equity than you probably ever thought you would in such a short period of time.
Now IS a good time to buy or sell - tune in and find out more.