Fannie Mae is predicting interest rates to rise from 4.01% to 4.8% in the first quarter of 2017.
This is a big deal if you want to sell your home but you’re thinking of waiting. That small uptick in interest rates increases the buying amount of the property by $67,000 over the life of the loan. That means that when buyers look at your home, they’re going to reduce the amount that they offer and your sale price will go down.
Right now, interest rates are low. There is increased demand in our area. Additionally, buyers outnumber the amount of available properties. In other words, this is the time to get top dollar for your St. Petersburg property.
If you would like assistance taking advantage of these fantastic selling conditions, please don’t hesitate to reach out to us. We would love to hear from you!