- Interest rates are still low. 4.375% as of Monday. A buyer that qualifies for a $300,000 home at today's interest rates will only be able to afford a $255,000 home once interest rates hit 6%. That is with the same monthly payment! The average interest rate for a mortgage loan over the last 30 years is 8%. Once we get there, the same buyer will only qualify for a $210,000 home. So if you are thinking of buying a home, now is also the time.
- Builder permits are up 23% in SW Wake since this time last year. What does that mean to you as a seller? In 6 months you will be competing with more new construction. Listen, I like established neighborhoods with big trees as much as the next guy, probably more. I do live in Haddon Hall. But it is tough to compete with brand new, never been lived in, never been walked on floors, 10 year warranties, crazy pools, granite countertops, and energy efficiency ratings that would cut your light bill in half.
- If you bought at the peak, you can get your money back. Yep, it's happening all the time. Sellers who bought at the height of the market are selling their homes and making a profit. If you have been thinking about selling but you're worried about getting back what you put in, now is your time. Call me. You are probably better off than you think.
- The word is out. Apex is the number one place to live in NC and the number nine place in the entire country, as rated by Money Magazine. They are coming. People are moving from California, New Jersey, and everywhere else you can think of to be right here, right now. With the low cost of living, great schools, extensive Greenway systems, and so many things to do in Apex and Cary, this area has acquired a terrific national appeal. We live well here and people know it.
So you're thinking of selling your home in southwestern Wake County and want to know "Should I sell now?" Categorically yes. Here's a few reasons why:
Father to two wonderful boys, husband to one smokin' hot wife...this Marine vet did better than he ever should've :-) Or...maybe this is Christine writing this one. See if you can tell :-)