Home and condo owners who wanted to sell their property but didn’t in the last five to six years seemed to fall into one of two categories:
- Home or condo owners who owed more on their mortgage than the property was worth (underwater). These home and condo owners were at risk of being foreclosed upon.
- Home or condo owners who delayed selling their property in order to move up to a larger home or condo or move down to a smaller one because the value of real estate decreased dramatically and so they had lost the equity they had built up since they bought their home or condo.
For homeowners in both of these groups, it is understandable that they’d be hesitant to sell their homes today after the roller coaster of the past few years. However, the reality of today’s market is that home values have increased, in some markets dramatically, and it might just be the perfect time to sell.
Your home might be worth more than you think. There are 3 reasons why and these are covered in this article.
Whether you are in the 1st or 2nd categories above, if you have wanted to sell your home or condo in this area and have chosen not to in the past few years because you were waiting for a better time, you should read this article because it may make sense now for you to find out if it the right time.