Should I Move? Is the Time Now?

Should I Move? Is the Time Now?

You may feel like throwing darts against the wall is a great way to decide if you will move or not. Place sheets of paper on the wall with the words “move” “don’t move” put on a blindfold and throw! Or you could use the process that Benjamin Franklin used. He would evaluate his options but when he needed clarity, he would write down the reasons for and against the decision. He felt that after putting it on paper, the choice would become obvious by majority or by practicality.

Buying and/or selling a home is an emotional decision. If you can separate the rationale from the emotion the decisions may become more obvious but still not crystal clear.

Prices rose and the market time shortens due to the inventory shortage. Many of the more active markets have less than a 30-day supply of homes for sale which is half of the inventory they had last year. This type of market makes it easier to sell and maximize any proceeds from the sale of our home.

In the 2021 Zillow Home Price Expectations Survey, 69 percent of the economists who participated believe the home inventory will begin growing in the second half of 2021 and continue into the first half of 2022.

Mortgage rates are still at record lows and your payments will be at the minimum. The inflation rate for the U.S. is expected to be between 2-3 percent. Borrowers consider that the inflation rate balances with the mortgage rate to effectively become zero percent.

Lawrence Yun, NAR’s chief economist states, “Consumers are facing much higher home prices, rising mortgage rates, and falling affordability, however, buyers are still active in the market.” He also stated, “At least half of the adult population has received a COVID-19 vaccination, according to reports, and recent housing starts and job creation data show encouraging dynamics of more supply and strong demand in the housing sector.”

During the pandemic, many of today’s buyers had the flexibility to work from home which has continued, and some have made the permanent transition. Working from home opens possibilities to live in new locations and to forgo daily commuting. Experts believe this will be a permanent shift even if only for a part of the workweek.

This shift has allowed many homeowners to maximize the price of their home sales and to relocate to more desirable living areas.

Good information specific to your needs is essential to making good decisions. We can explore the possibilities together. Once you have all the facts, you can be like Benjamin Franklin with the balance sheet to help decide.

I can provide Insider Information on Fairfax VA homes for sale. Get you a FREE Market Snapshot Report of Your Northern Virginia Home’s Value, or  Search All Northern Virginia Homes For Sale. Put that data you need at the tips of your fingers!

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