How to Shake Off Selling Doubts

How to Shake Off Selling Doubts

Continually asking yourself “what-if” questions about the trajectory of prices, mortgage costs and even market sentiment can sow so much uncertainty you suffer decision paralysis.

While current market conditions are challenging to understand, paying too much attention to generalized reports may be a mistake. The national real estate market comprises thousands of micro-markets across cities, suburbs and regions, all with their own characteristics. Researching the markets where you want to sell and buy is critical at a time of high lending rates and low housing inventory. The best approach is to ask the experts: agents with an intimate knowledge of the neighborhoods you're interested in. 

This checklist will help with the decision making.

Be specific

Write down exactly what you want from your purchase. How big should your next home be? What areas are you interested in? What are your “must-haves” and “nice-to-haves”? Answering such questions will help make your search efficient.

Personalize searches

You can waste a lot of time looking for properties online with generalized search terms. Use that list of “must-haves” when scrolling property portals. 

Find an agent

You should interview at least two or three agents to help you find your next dream home. They'll have information about prices and the properties that fit your criteria. Often, an agent will also know about homes that have not been advertised yet. 

Rate ideas

One recent survey found nearly 80% of sellers are worried about interest rates. However, you can buy a lower rate with the lender or work with a builder who offers rate buy-downs as part of a deal for a newly constructed home.

Different approach

Have you heard of an “assumable mortgage”? It's not often used, but it may be an answer for you. This product allows you to “assume” the mortgage currently held on the property you buy, inheriting its interest rate, too. Of course, you do have to apply to the mortgage-holding lender.

Waiting game

Holding on for falling mortgage costs may not suit your circumstances. However, property is based on the supply and demand principle, so values will probably rise when interest rates fall. Bottom line: you may as well act now.


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