Now May be Best Time to Sell Your SW Florida Home
Most people in SW Florida realize the real estate market has been recovering for some time now. So many either lost their homes or felt like they were in prison trapped in their own homes because they had negative equity. For the past two years more and more homeowners have been able to sell due to rising equity. Today we’d like to discuss why now may be best time to sell your SW Florida home.
We still find a large number of home sellers who are surprised that they can finally make a move. Some like that they are in positive equity positions again and sell while some believe the market is increasing so why sell now? Now May be the Best Time to Sell Your SW Florida Home
Home prices in Lee County are up 44.16% in 2 years. That’s a remarkable jump but that rate won’t continue. Here are some facts that might help you decide if now is the right time to sell your home:
- The price of your home has gone up and so has the price of your replacement home. If you’re considering selling in Lee County and buying another one locally, waiting can cost you money
- Interest rates are going up. We’ve already noticed a slow creep and they’re expected to go higher in the next 2 years. Not only will rising rates limit the buyer pool of your home, it will increase borrowing costs for your next home should you choose to finance.
- Insurance rates are climbing on older homes. Insurance companies may raise rates on homes with older roofs, plumbing, and electrical wiring. It may cost more to stay in your older home than a newer home.
- Maintaining an older home can be costly. You may have to spend money on a new roof, appliances, paint, pool, and more in the next 5-10 years. Some sellers elect to put that money into a newer home instead of throwing money at an older home that costs more to maintain and insure.
- Your window for opportunity may be shrinking. As interest rates rise your options may dwindle. It may cost you more to move in 3 years so you decide to stick with what you’ve got. You’re stuck with an aging home that costs more to insure and maintain simply because you missed the interest rate window.
If you’re unsure about what your home is worth or if now is the right time, we have answers for you. Simply call the Ellis Team at RE/MAX at 239-489-4042 and we’ll discuss your options. Everyone’s situation is different and we can guide you through the maze. We can give you detailed pricing estimates and discuss all the factors that affect you.
We also have an online computer model that gives you an estimate of your home’s value. It rates your neighborhood, provides a list of comparable sales with the date your neighbors sold and the sold price per square foot, and an estimate of your home’s value.
Simply go to Topagent.com and click on the Find Out What Your Home is Worth link. It’s simple and Free.
As always, if you’re serious about making a move there’s no substitute for speaking with a professional. We’re happy to talk. We’re here for you either in person or online. We hope you appreciate our efforts to bring you quality information and we hope that when you decide it is time to sell, you’ll consider calling the Ellis Team at RE/MAX. If you think now may be best time to sell your SW Florida home, we’ll handle you with care. 239-489-4042 or TopAgent.com
Good luck and Happy House Selling!
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