In Kokomo Is it a Good Time to Buy
or Sell Real Estate?
By
Should We Buy or Sell Real Estate in Kokomo
Dear Betty,
With everything going on in the economy right now, is it a good time to sell our Kokomo home and buy another one?
Thinking About Moving
Dear Thinking,
Wow, that is really a loaded question – and a two-parter! Where’s my crystal ball? But I will try my best…
Let’s start with buying a house. There has NEVER been a better time to buy a house in Kokomo than right now!
- Low prices.
- Low interest rates.
- Lots of homes to consider.
Contrary to what we hear in the news media, Kokomo lenders are making home loans - at very good rates. So, all things considered, this is a GREAT time to buy a home in Kokomo.
Selling a Kokomo home…
I call upon my crystal ball…
The absolutely best time to sell a home is when you HAVE TO SELL! A seller who has to sell is motivated! They aren’t just “testing” the market to see IF they can sell. They really need to sell. Think foreclosures, relocations, estates, etc. All of these seller, HAVE TO SELL!
Now, it doesn’t sound like you have to sell. You are probably thinking about all those ”bargain” properties out there and think this might be the time to move to your “dream” home.
Here are some things to consider…
- How long have you owned your home? In a “normal market” when prices are going up, you need to be in a home for 2-3 years to “break-even”. Now, you know Kokomo isn’t in a normal market, so the “break-even” point is around 5-7 years.
- How much do you owe on your house? Have you refinanced and “cashed-out” in the last few years? How does the amout you owe on your house compare to the sold prices of houses similar to yours? (Not the asking price, the SOLD price.)
Be assured, buyers are buying. They are looking for good deals – just like you are doing. A good deal isn’t necessarily a “fixer” foreclosure. In fact, many buyers want a “move-in ready home” and are willing to pay a fair price for it.
So, yes, it is a great time to buy a home in Kokomo! Is it a good time to sell? That depends on your situation. I would be glad to schedule a consultation with you to discuss your situation, provide you with a market review and outline possible options with you.
I’m just a phone call away!
765-513-0354
Sincerely,
Betty
NOTE:
Are you considering buying or selling a home in Kokomo? Call me at 765-513-0354 or send me an email to schedule a consultation.
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