Some would-be move-up home sellers are eying home prices carefully. They’re waiting to see how much home prices appreciate more before they consider selling their home. But they may be missing their perfect opportunity, some housing experts say.

The best time to move may depend on when the home owner purchased their current residence, says Daren Blomquist, vice president of RealtyTrac. Blomquist says that home owners who purchased their home during the sluggish market the last two to three years may find moving up in 2013 may be their prime opportunity.

“Because they bought near the bottom, these home owners should have built up some good equity that can go toward the purchase of a new home, and waiting longer to build more equity likely won’t provide much advantage given that other homes that they might want to move up to will also be appreciating at roughly the same pace,” Blomquist told HousingWire.

Home owners who wait much longer to sell their home may miss out.

“If you’re selling one house just to move up to another, it does you no good to wait for prices to rise — the price of the move-up home will increase faster than the price of the place you’re leaving behind,” says Redfin CEO Glenn Kelman.

Plus, mortgage rates are expected to come off the 3.5 percent range and reach 4.4 percent in the next year, according to the Mortgage Bankers Association. That will increase the costs of financing your next home.

Source: “The Time to Sell Is a Waiting Game for Some,” HousingWire (March 21, 2013)

  • How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center

    How To Make Your 2-BR 2 BA Garden-Style Condo More Interesting For Property Shoppers Considering Palazzo At Park Center thumbnail
    It’s pretty obvious, but staged places sell. What can you do if your residence is already adorable?

    Read More

  • Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308

    Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308 thumbnail
    Are you planning to list your residence? A home that isn’t staged may sell if properly prices. On the other hand, a staged place of residence will sell faster and for more money. What steps can you take now to sell your split foyers-style house in a Split Foyer-style community?

    Read More

  • How To Interest Home Buyers Looking At Buying A Premium Home In Arlington County

    How To Interest Home Buyers Looking At Buying A Premium Home In Arlington County thumbnail
    What steps can you take now when you don’t know what to do first?

    Read More

  • How To Interest Home Buyers Who Are Looking At Buying A Residence In 22204 In Arlington County

    How To Interest Home Buyers Who Are Looking At Buying A Residence In 22204 In Arlington County thumbnail
    What should you do to make your high-rise condo more attractive to buyers?

    Read More

  • How To Make Your 1-BR Residence More Interesting For Property Shoppers Considering Twenty-One

    How To Make Your 1-BR Residence More Interesting For Property Shoppers Considering Twenty-One thumbnail
    When the seller makes the effort to give the buyer feeling that the property is his dream home, the buyer has a harder time moving on the next property. What do professionals think you should do to make your mid-rise condo look as attractive as possible to purchasers?

    Read More

Share
Real Estate Sales, Selling, , , ,

Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.