Monday, August 8, 2016

Why to Buy and Sell Real Estate in Lexington, MA This Summer

Lexington home-buying and home-selling tips
It’s August already, which means summer is flying by here in Lexington, MA! Have you gotten out and enjoyed all the events and activities our community offers in the summer months? Have you achieved your Lexington real estate market goals? It’s not too late! Summer is a great time to buy or sell a home, or both, and as your Lexington real estate agent, I am here to help you out.

If you’re not sure now is the right time for you to buy a Lexington home, here are some reasons that it is:
  • Prices have appreciated by 5.9 percent over the last 12 months and are expected to increase another 5.3 percent over the next year. Bargain prices are a thing of the past. The smart time to buy is now, before they increase more!
  • Mortgage rates, on the other hand, are still historically low, hovering around 4 percent. They have remained low longer than real estate experts had originally expected, but experts still predict an increase in the coming years.
  • When you rent, you are still paying a mortgage, but it is your landlord’s mortgage that you are paying! You never see that money again. When you pay your own mortgage, you are investing in your future and creating equity. When you sell, you’ll see your money again, and then some!
If you’re not sure now is the right time to sell your Lexington home, here are some reasons that it is:
  • Demand is strong. Because of low mortgage rates and increasing home prices, buyer demand is strong in the Lexington real estate market! Sellers should take advantage. The more demand there is, the more options and negotiating power you hold, and the faster you’ll find a buyer.
  • There is also less competition that usual right now, which puts you in a place of power. Real estate experts do predict that more sellers will enter the market soon, and new homes will be built, so now is the time to sell and take advantage of less competition from other sellers.
  • If you want to sell so that you can move into a bigger, better dream home, there isn’t a better time to do so! Remember why buyer demand is high? Mortgage rates are low, and rates and prices are predicted to increase over the next year. The sooner you sell and rebuy, the more you’ll save with your new home.
Whether buying or selling, there’s a reason you want to do it. Why wait? Move on with your life and accomplish your goals and dreams in the Lexington real estate market this summer! As your Lexington real estate agent, I would love to help you out. Contact me at any time to begin the process.

Theresa D'Antuono

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