The Case For Selling Your House Now... Even If You Think Prices
Are Going To Rise
Mortgage rates are on their way
back up.
U.S. household net
worth just hit an
all-time high.
These are among the reasons
why Zillow CEO Spencer Rascoff says it's now time to sell your house (via Jim the
Realtor).
In an appearance on CNBC this
morning, Rascoff says an ongoing lack of supply — the result of people still
trapped by negative equity — and steady demand will only drive rates up further
in coming years,
That means it'll be more expensive
to buy a home at a given price down the road than now.
He explains:
If you have any equity in
your home and you’re thinking about selling in the next couple of years,” he
continued, “[it's] probably best to sell now, even though home values are
continuing to rise.
Imagine yourself buying a
$300,000 home today, and in four years you may want to trade up to a $500,000
home,” he said. “That home is not just that much more expensive—but because
mortgage rates are going to be higher—it’s significantly more expensive. So the
trade-up market is going to be very troubled in a couple of years.
You can see the full clip
at http://www.businessinsider.com/its-time-to-sell-your-house-2013-6#ixzz2Vw87qzGg
Scott Larson
Reverse Mortgage Specialist
(408) 315-2503 direct
(408) 872-4002 fax
The Information Age
offers much to mankind, and I would like to think we will rise to the
challenges it represents. But it is vital to remember that
information – in the sense of raw data – is not knowledge, that knowledge is
not wisdom, that wisdom is not foresight. But information is the first
essential step to all these. -unknown
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