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Apr 21 - Why You Should Sell Your Home in 2019


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 12 months ago '08        #1
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GoldBluded  topics gone triple plat - Number 1 spot x3
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Apr 21 - Why You Should Sell Your Home in 2019
 

 
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Why You Should Sell Your Home in 2019
Housing markets may not be as hot as previous years, but selling now could be your best bet.


Why You Should Sell Your Home in 2019


Few people are predicting that 2019 will be a record-breaking year for home prices.

But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if youíre on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you donít.

ďI think itíll be better than 2020 and 2021 Ė who knows whatís going to happen in those years,Ē Ron says.


Housing Market Expectations in 2019
Home price growth slowed in the second half of 2018, with fewer buyers entering the market, at least partially due to rising interest rates issued by the Federal Reserve. In 2019, consumers shouldnít expect homebuyers to flood the market again and drive prices through the roof, but itís also unlikely to be a crisis for home sellers.

If you bought your house in the last year or two, still love it and donít want to part with it, go ahead and wait another five years before revisiting the thought of selling. But if youíre weighing your options to sell, considering selling this year or maybe the year after, donít play the waiting game.

Here are four reasons to sell your house in 2019:

1. New buyers are still entering the market.
2. Interest rates are still on the lower end.
3. You have high equity.
4. Selling now will be better than waiting till 2020.



New Buyers Are Still Entering the Market
As interest rates rise, some buyers will hesitate to make an offer on a home or apply for a mortgage, so be ready to see occasional drops in buyer activity. And if your house is at the higher end of the price range in your market, you should expect less buyer interest than before. Ron notes the combination of rising mortgage rates and home prices exceeding buyers' budgets are what has caused the slowing of homebuyer activity in recent months.

But with available housing inventory remaining low, even with rising interest rates, buyers who are ready to make a purchase will still shop for homes. The biggest wave of new homebuyers will be among millennials, who are mostly first-time buyers. In a Harris Poll survey of 2,000 U.S. adults commissioned by real estate information company Trulia, more than one-fifth of Americans between ages 18 and 34 said they plan to buy a home within the next 12 months. Already, millennials make up the largest share of homebuyers at 36 percent, according to the National a*sociation of Realtors, which released the number in March 2018.

The bottom line: While houses may sit on the market for a few more days on average compared with 2017 when the market was white-hot, buyers remain active and itís still possible to profit from your home sale.



Interest Rates Are Still Low-ish
Mortgage interest rates have been on a bit of a bumpy road over the last few months. Interest rates for a 30-year, fixed-rate mortgage reached their highest level in over seven years in November 2018, when they hit 4.94 percent, according to Freddie Mac. As of the end of February 2019, however, interest rates are down slightly to 4.35 percent, according to the mortgage loan company. While itís reasonable to expect mortgage rates to continue to climb gradually throughout the next year, theyíll remain much lower than the historic high of more than 18 percent in 1981.

Itís important to keep in mind that while mortgage rates tend to mirror the Fedís interest rate activity, mortgage rates are based on the market in that moment, your financial status and the property youíre looking to purchase.


Just because the Fed raises rates at one meeting doesnít mean mortgage rates will follow that exact pattern. ďNot every Fed increase is passing on (to) a mortgage rate,Ē says John Pataky, executive vice president and chief consumer and commercial banking executive at TIAA Bank.

A sudden leap in mortgage interest rates is unlikely in 2019, though Pataky notes that you should be ready to see rates continue to climb. ďWe do expect over the next 12 months that mortgage rates will continue to drift higher,Ē he says.

If youíre looking to get the lowest interest rate possible on your next house, try to make a deal sooner rather than later.

You Have High Equity
Homeowners who bought during the recession or shortly after benefitted from historically low interest rates and, up until around 2015, lower home prices that were still in recovery mode. If you fall into that category, your home equity has risen with nearly every mortgage payment, each renovation you made to the house and all the other houses on the block that sold for a higher price.

The higher your equity in your home, the more you net from the sale, which can easily go toward the down payment on your next house. The larger your down payment, the better you look to lenders and the lower your interest rate will be, and the less likely you'll need to increase monthly payments with private mortgage insurance.



Selling in 2019 vs. 2020
If not selling your home in 2019 means putting your house on the market in 2020, the sooner option is the best one. In a survey of 100 U.S. real estate experts and economists by real estate information company Zillow, released in May, almost half expect the next recession to occur in 2020. Another 14 percent believe the recession will hold out until 2021, while 24 percent of panelists expect the recession earlier Ė sometime in 2019.

Whether you believe the recession is imminent or a long way off, current real estate patterns indicate a sudden upswing in activity or prices is unlikely in the near future. Real estate markets tend to operate on a cycle of their own, the length of which varies by market but can be between 10 and 16 years total and flow from a sellerís market to a buyerís market with a period of balance in between.

ďIt doesnít look like thereís anything on the horizon thatís going to cause a big spike in home prices or increase demand dramatically,Ē Ron says.


this is not financial advice
visit this link https://realestate.usnews .. sell-your-home
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 12 months ago '07        #2
pete jr 
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Thinking of selling one of my properties and doing a 1031 exchange. Seems like the perfect time to do it
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 12 months ago '05        #3
pnoi89  topics gone triple plat - Number 1 spot x1
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I’m not understanding.... Sell my home and live where? I have 9 years left on my mortgage and house appraised worth raised from At least 50% since 6 years ago when I bought it. Why sell if everything around me also raised in value?
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 12 months ago '08        #4
GoldBluded  topics gone triple plat - Number 1 spot x3 OP
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 pnoi89 said
I’m not understanding.... Sell my home and live where? I have 9 years left on my mortgage and house appraised worth raised from At least 50% since 6 years ago when I bought it. Why sell if everything around me also raised in value?
Im a*suming they are talking about if a crash happens within the next 4 years. If im not mistaken in 2008 you could purchase homes literally 60-75% off the price it was 2 years before. If the price isn't going up and you have enough equity in the home if you let it go for a profit you will come out victorious instead of upside down on a mortgage.
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 12 months ago '15        #5
Prad Bitt 
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 GoldBluded said
Im a*suming they are talking about if a crash happens within the next 4 years. If im not mistaken in 2008 you could purchase homes literally 60-75% off the price it was 2 years before. If the price isn't going up and you have enough equity in the home if you let it go for a profit you will come out victorious instead of upside down on a mortgage.
Bingo. Valuations were sky high then though.
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 12 months ago '15        #6
Madethagreat 
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Idk man I feel it’s a lot economic engineering going on by tricking people out of owner ship

sh*t even my home girls dealer called for a car she financing back talking about can we get it back and put you on a 2019 lease with even lower payments

That car is selling. Acura MDX

Mind you shorty is almost done paying off smh

What you think she doing ? 2019 it is lol
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 12 months ago '16        #7
Iz2real 
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I own 4 properties now and looking at buying 7 more before year end. I’m not buying this crap or selling my homes. They’ve been talking this crap every year and real estate is thriving.
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 12 months ago '17        #8
JacobWatch 
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I see what they’re saying, but property value dropping by 50% within the next 2 years doesn’t seem likely where I live.
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 12 months ago '08        #9
jay2doza 
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False. Especially I’m the Bay Area. Never sell, just rent out and let your mortgage pay its self.
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 12 months ago '16        #10
Iz2real 
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 jay2doza said
False. Especially Iím the Bay Area. Never sell, just rent out and let your mortgage pay its self.
Yea Iím in Sac, now a days you can make more renting out rooms
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 12 months ago '18        #11
Jwardisback3rd 
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 jay2doza said
False. Especially Iím the Bay Area. Never sell, just rent out and let your mortgage pay its self.
Yea a lot of people gotfu*ked out they home 2008 in the bay

sh*t is wayyyyyt up now rent it out like u said
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 12 months ago '06        #12
soso24 
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My rental propertie's value have doubled since I bought em in '11 & '13... Just got a grip back from the IRS off my property & rental deductions... I think not
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 12 months ago '15        #13
donnyyy 
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gentrification on the rise... if you own keep your stuff
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 12 months ago '18        #14
Losantana16x3  topics gone triple plat - Number 1 spot x1
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 pete jr said
Thinking of selling one of my properties and doing a 1031 exchange. Seems like the perfect time to do it



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 12 months ago '18        #15
Losantana16x3  topics gone triple plat - Number 1 spot x1
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 soso24 said
My rental propertie's value have doubled since I bought em in '11 & '13... Just got a grip back from the IRS off my property & rental deductions... I think not
Those deductions are the only ones left ........oh yeah and the kids
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 12 months ago '09        #16
NLSP42  topics gone triple plat - Number 1 spot x2
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The article is not true in some areas

It said low inventory.....in a lot of places that is not the case and there are homes for sale EVERYWHERE
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 12 months ago '19        #17
Angry Yam 
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 pete jr said
Thinking of selling one of my properties and doing a 1031 exchange. Seems like the perfect time to do it
n*gga you donít own properties foh
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 12 months ago '19        #18
Angry Yam 
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 Iz2real said
I own 4 properties now and looking at buying 7 more before year end. Iím not buying this crap or selling my homes. Theyíve been talking this crap every year and real estate is thriving.
Ducktales
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 12 months ago '08        #19
606robin 
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 Madethagreat said
Idk man I feel itís a lot economic engineering going on by tricking people out of owner ship

sh*t even my home girls dealer called for a car she financing back talking about can we get it back and put you on a 2019 lease with even lower payments

That car is selling. Acura MDX

Mind you shorty is almost done paying off smh

What you think she doing ? 2019 it is lol
Iím confused maybe because Iíve been on duty for 24. Why, is your girl dropping her almost paid off whip (ownership) for a lease?

 12 months ago '18        #20
niruggg  topics gone triple plat - Number 1 spot x3
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 Iz2real said
I own 4 properties now and looking at buying 7 more before year end. Iím not buying this crap or selling my homes. Theyíve been talking this crap every year and real estate is thriving.
where at?

 12 months ago '13        #21
North!!!  topics gone triple plat - Number 1 spot x2
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 12 months ago '04        #22
qutaboi225  topics gone triple plat - Number 1 spot x7
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n*gga we in Louisiana. We were recession proof in Louisiana. fu*king houses went up 200%+ and rent high af in the cities. We thrive on the oil industry and between Exxon, Shell, and a few other companies there are 20 to 30 billion in expansions coming. LSU driving prices up too. I'll keep my 90k in equity and hold for the fu*kery
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 12 months ago '12        #23
sycomiko 
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 Madethagreat said
Idk man I feel itís a lot economic engineering going on by tricking people out of owner ship

sh*t even my home girls dealer called for a car she financing back talking about can we get it back and put you on a 2019 lease with even lower payments

That car is selling. Acura MDX

Mind you shorty is almost done paying off smh

What you think she doing ? 2019 it is lol
For real. Having a roof over your head is never going out of business. The guys talking all this bulsh*t are the same ones buying all the property and flipping it.
+5   

 12 months ago '16        #24
Killumination 
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 Iz2real said
Yea Iím in Sac, now a days you can make more renting out rooms
I feel you but housing in sac seems over priced.

 12 months ago '17        #25
Blocka Blocka 
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How did you giuys go about getting your properties if you don’t mind me asking what do y’all do for a living. I currently rent in Tampa but I want to buy a house that sh*t is so expensive now. Like 300k for what I want
+1   

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