Real estate impacts of rising interest rates

“Today is probably the best time in U.S. history for sellers to get the most money, and now is the time to do it,” said real estate agent Donna Castillo. Property experts advise if you’re ready to sell your home, now is the perfect time to capitalize. However, with interest rates rising again, many potential buyers are finding their price exceeded. , home values ​​in Louisiana and across the country are still peaking with increasing appreciation. “The average media price is around $350,000 and found around 7-10% appreciation in these homes, so if you buy, you’re going to make money. Real estate, you’re always going to make money. money,” Castillo said. “You lose by not buying. I find that some people wait and the market goes up and now they’ve missed their chance. And they won’t be able to afford a house.” It’s also a byproduct of the COVID-19 pandemic, with many families realizing the need for the extra space. “So suddenly their house was way too small for the current conditions,” Castillo said. “It forced them to sell and buy houses and get more space for their families. So that was a real game-changer, we thought everyone would be sitting around for a while. They didn’t. , they needed that extra space, so we’ve seen a lot of movement in the market.” Castillo recommends the following tips to sell your home faster:1. Buy another house first2. Exit3. “Pimp your crib”4. Bravely Underprice5. Put your house up for auction with a low starting bidYou can find more information HERE.

“Today is probably the best time in U.S. history for sellers to get the most money, and now is the time to do it,” said real estate agent Donna Castillo.

Property experts advise if you’re ready to sell your home, now is the perfect time to capitalize. However, with interest rates rising yet again, many potential buyers are priced out.

It is becoming increasingly difficult for potential homeowners to take out new debt and for current homeowners to refinance outstanding mortgages or qualify for home equity lines of credit.

On the other hand, home values ​​in Louisiana and across the country are still peaking with increasing appreciation.

“The average media price is around $350,000 and found around 7-10% appreciation in these homes, so if you buy, you’re going to make money. Real estate, you’re always going to make money. money,” Castillo said. “You lose by not buying. I find that some people wait and the market appreciates and now they’ve missed something. And they won’t be able to afford a house.”

It’s also a byproduct of the COVID-19 pandemic, with many families realizing the need for the extra space.

“So suddenly their house was way too small for the current conditions,” Castillo said. “It forced them to sell and buy houses and get more space for their families. So that was a real game-changer, we thought everyone would be sitting around for a while. They didn’t. , they needed that extra space, so we’ve seen a lot of movement in the market.”

Castillo recommends the following tips to sell your home faster:

1. Buy another house first

2. Go out

3. “Pimp your crib”

4. Bravely underprice

5. Put your house up for auction with a low starting bid

You can find more information here.

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