Is now the best time to buy/sell your house?

Is now the best time to buy/sell your house?

People often ask me when is the best time to buy or sell their home. I can tell you Now is the time.

According to the National Association of Realtors® The National median existing-home price for all housing types was $173,600 in January, up 12.3 percent from January 2012, which is the 11th consecutive month of year-over-year price increases; that last occurred from July 2005 to May 2006. The January gain is the strongest since November 2005 when it was 12.9 percent above a year earlier.

We are experiencing a shortage of inventory in the housing market especially in the
Dallas-Fort Worth area. Even those homes still available for our buyers often end up in a bidding war with multiple offers. People are offering more than asking prices. In some occasions when the property does not appraise for the contracted price, buyers are willing to pay the difference.

 I can say this is a great market not only for Sellers but for buyers as well. We are experiencing the beginning of a sellers’ market. Good for Sellers that are looking into making a profit. And even though buyers are having to look longer due to lack of inventory, we still have historically low interest rates.

I have to mention the urgency buyers are experiencing if they are planning to get a FHA loan. The Department of Housing and Urban Development and the Federal Housing Administration press release reads HUD No. 12-037, “FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount. Upfront premiums (UFMIP) will also increase by 0.75 percent.”

If you are looking to buy or sell your home in the DFW area act now an allow me to use my marketing and service skills to make your Real Estate experience a breeze. Call me today for free consultation 972-489-4050

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Let Brenda “Taylor” the way to your new home! ©