Things You May Question when Selling Your Home

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There is much to consider when you decide to put your home on the market for sale. While you certainly have your own personal reasons for a move, a big consideration people have is if today’s mortgage rates and their impact on today’s housing market make it a good time to sell. Here are some things to think about if you fall into this camp.

Should You Wait?
If you are thinking of waiting to sell once mortgage rates decline, it is likely that many others are thinking that too. This means that there could be more competition if you wait til later as other sellers may also list at that time as well. Even a smaller drop in rates will most likely bring more buyers and sellers into the market.

Are Buyers Active Today?
The short answer is yes. Despite rates being higher these days there are still many active buyers out there still searching for their next home. According to ShowingTime Showing Index, if we look at the month of March for the past 7 years (other than 2021 and 2022 as they were out of the norm due to the pandemic) then activity is quite normal. In fact, it is not only good activity like last year but it is also up from years such as 2018 and 2019 when rates were much lower.

Your Next Home Affordability
If you are concerned about whether or not your next home will be too expensive with today’s rates and prices, you may have more equity in your current home than you realize. Homeowners have earned record amounts of equity over the past few years. And that equity can make all of the difference when you purchase your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says: “ . . . those who have earned housing equity through home price appreciation are the current winners in today’s housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

If you want to discuss more about any of these questions or need more information, contact me today!

Beth Dickerson

Boston, MA

Primary phone
(617) 510-8565
Email
[email protected]
Address
277 Dartmouth St. , 2nd Floor,
Boston, MA 02116

About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.