If You Waited To Sell, You May Be Brilliant!!

Many homeowners look back on 2006 house values and wonder why they didn’t sell at the height of the market. They lament the money they may have lost by not selling. However, there is another side to that story. If they did sell back in 2006, they would have still needed to live somewhere.

Looking back at the euphoria that permeated the real estate market at the time, many may have sold and moved into an even nicer, more expensive home. With the benefit of 20/20 hindsight, we can now calculate the financial consequences of such a move.

Let’s look at a house that would have cost $400,000 in 2006. For the sake of this example, we are going to assume that values in this region dropped 25% since. 

Year	Price	Mortgage Rate	Principle & Interest
2006	$400,000	6.5%	$2,528.27
Today	$300,000	3.5%	$1347.13

With interest rates low as they are now and the demand for more homes on the market, it is a great time to sell.  There are bidding wars happening right now!  Why not take advantage of the current market conditions and  possibly sell your home for over the asking price!  Want more information, Wondering what your home is worth?  Contact Me!