Four Definite Ways Time is Not On Your Side!
Four Definite Ways Time is Not On Your Side!
1. Supply & Demand ⚖
Right now the scales are tipped in the seller's favor with so few homes being on the market. The future is uncertain of just how many sellers we'll see list their homes or how many more buyers we will have in the game. One thing IS for certain right now; you are gambling your real estate goals by waiting to see what is around the corner!
2. Interest Rates %
We have historically witnessed interest rates to fluctuate up and down. We currently know that interest rates have never been lower than right now! My crystal ball is a little hazy on just how long we can expect them to stay low. Right now is the time to get your rate locked in before the haze clears and rate begin to climb!
3. Time Is Money $$
Hesitation never killed a cat like curiousity but it sure could cost you a pretty penny in the long term!
Hypothetically speaking, if homes all appreciate the same %, you could be cutting your nose of to spite your face by waiting, especially if you're selling and hoping to dodge capital gains tax by reinvesting or buying up! What you realize in net profit on your existing home could drain right out of your pocket on the next purchase!
4. Last, but never least; Taxes ☠
East Tennessee property owners currently realize certain tax benefits that could easily fade away if the feds decide to change the tax structure of capital gains tax or mortgage interest deductions! Again, we have no guarantee of tomorrow [as we all have well realized lately] so procrastination is NOT your friend! You should always seek the professional advice of a tax accountant or attorney.
It may seem better to wait a bit before you make your move in the real estate market. The Sevier County real estate market is geared up and running full steam ahead! Like the mortgage interest rates, our inventory is low and buyer interest is through the roof!
If you are thinking of putting your home on the market NOW is the time to pull the trigger! There's never been a more important time to have the resources at your disposal when it comes to buying or selling a home in East Tennessee.
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With over a decade of Sevierville Tn real estate experience, Michele Bryan is your go to person for everything real estate in the East Tennessee area. Call today for a FREE valuation report of your home and see where you compare to the current real estate market. You can also order your report right on our website by clicking here
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