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Is Refinancing Depriving You of Financial Oxygen?

Is Refinancing Depriving You of Financial Oxygen?

Refinancing is an option for homeowners who have a mortgage. Refinancing is also available for auto or car loans, personal loans and students. Business loans can also be refinanced.

October 19, 2018
March 19, 2018

The Best Times to Buy and Sell a Home

Understanding fluctuations in the real estate market can be tricky. There are a lot of factors that affect the market. Having an idea of what those are can work in your favor when it comes to buying or selling a home. Is it a good time to put your house on the market? Could now be the right time for you to buy? Read on to find out if the factors that affect the housing market are working for you.

Seasons 
It seems a little odd, but the weather absolutely affects the housing market. In part, this is due to the weather itself, but it’s also due to the flow of the average American’s year.
During the fall and spring, buyers have a better chance of getting the deal they’ve been hoping for. This is because more people list their homes at these times of year. These seasons tend to be less busy and the weather is better for DIY projects around the houses so that buyers can get their homes ready to list.
During the holiday season, sellers may have an advantage. Generally, people looking to buy during the holidays want a transaction done quickly so they can get into their new home before the holidays. This makes buyers more apt to pay a little more. Plus, available inventory is lower during the winter.

Interest Rates
Mortgage interest rates can make all the difference in whether a person can afford the home of their dreams. Their effect on the real estate market is notable, as well. When interest rates are low, people are looking to buy homes. This drives prices up as the law of supply and demand kicks in and there are fewer available listings as some sell. Lower interest rates make for a better time to sell, as well, since prices are higher. When interest rates go up, it encourages people to wait to buy (and therefore sell) if possible. Find and track current interest rates here.

The Economy
Nobody wants to buy a house when they’re unsure about the economy. When the economy struggles, so do our jobs, earnings, and so on and so forth. People don’t feel comfortable committing to a mortgage when they are uncertain about their financial affairs.

Government Programs
Tax incentives and special programs helping individuals purchase homes often lead to an increase in home buying trends. For example, the 2009 First Time Homebuyer’s Incentive led upwards of 900,000 people to purchase homes according the NAR (National Association of Realtors).

Cultural and Social Changes
The way people see homeownership has changed quite a bit over the past few decades. This is another factor that affects the real estate market. It’s important to keep in mind that these cultural and social shifts will impact various markets differently.

So, When Is the Best Time to Buy or Sell a Home?
The aforementioned factors may influence the ease at which your home is sold, and the price, but none are the end-all-be-all in most situations. The answer is ultimately, when you’re ready. Have you found a new home yet? Do you have the necessary finances? Do you want to fix up your house before selling? If you’re looking to sell your home as a means of equity release, but you’re not ready, EasyKnock’s Sell and Stay plan can remedy that situation.

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