Frederick MD | Hey, Millennial Homeowners!! It May Be Time to Sell

 

Frederick MD Local Market Tidbits:

In order for us to provide comprehensive real-time market data and in-depth analysis for the benefit of all our clients, we use this blog to bring you our expertise and provide you with world class service

From an advisory point of view, our local knowledge will benefit you financially when buying a home through us.

From a valuation point of view,  our marketing expertise will augment the results you are looking for when selling a home.

From an activity point of view, these neighborhood in Frederick are the most active: 

 

* Fort Detrick

* Wormans Mill

* Ballenger Creek Center

* Clover Ridge (Hill) 

* Monocacy (Park, Crossing, Mile) 

* Taskers Chance

* Hillcrest orchards

* Monarch Ridge

* Holly Ridge

* Manors At Ballenger

* Spring Ridge

* Brunswick & Brunswick Crossing

 

Today I want to talk to you about  Hey, Millennial Homeowners!! It May Be Time to Sell

 

Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise.

Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:

 

1. Equity Build-Up

Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions, in their Q2 2017 U.S. Home Sales Report revealed that:

“…homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.”

 

2. Projected Home Price Increases

If you just got married or just found out you are about to become a parent, you may have plans to move up a bigger home or perhaps move to a different area. Waiting to buy a more expensive home in this market probably doesn’t make sense. The experts contacted for the Home Price Expectation Survey are projecting home prices to increase by nearly 5% over the next year. Yes, your house’s price will increase but not as much as a home currently valued higher than yours.

 

3. Projected Interest Rate Increases

The Mortgage Bankers’ Association, Freddie Mac, Fannie Mae and the National Association of Realtors are each projecting mortgage rates to increase over the next year.

Higher PRICES + Higher INTEREST RATES = LARGER MORTGAGE PAYMENTS.

 

Bottom Line

If you are lucky enough to be one of those Millennials who purchased a house in 2010 (or even later), now might be the perfect time to move up to the home of your dreams!

 

Source.. KCM Fernando Herboso Blog

 

We fully understand that buying or selling a home is more than just a business  transaction between two people. 

We know how it affects your family and we know the experience could affect the quality of your life.

That’s why our team of highly-seasoned real estate professionals are dedicated to providing you with exceptional services at a local level.

Our pride is our personal touch that we use to connect with our clients, 

where our goal is to build a long-term relationship based on trust and service.

Let us help you achieve all your real estate goals. 

Give us a call now.

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To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information.