SELLERS: DON'T LET THESE TWO THINGS HOLD YOU BACK Many homeowners thinking about selling have two key things holding them back That's feeling locked in by today's higher mortgage rates and worrying they won't be able to find something to buy while supply is so low. Let's dive into each challenge and give you some helpful advice on how to overcome these Challenge #1: The Reluctance to Take on a Higher Mortgage Rate According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 46 (see graph below) 50 40 2 2 2 20 30 20 26% 10 44.7% MONTROSE $494,000 BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES 20.3% 1649 Wetterhorn Street Bed 2Bath12,166 sq ft Don Baley 970 209 8257 -3% 3.01-4% 4.01-5% 501-6% +6% But today, the typical 30-year feed mortgage rate offered to buyers is closer to 796 As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost.This is a situation known as the mortgage rate lock-in effect 5.3% COBBLE CREEK 3675,000 3.7% 2 OPEN HOUSE! Sunday, Aug 15th 11:00 am - 2:00 pm Hosted by: Donna Harville Justin should wait to sell Mortgage rates are notonously hard to predict. And right now home prices are back on the rise. If you move now, you'll at least best rising home prices when you buy your next home And, if experts are right and rates fall you can always refinance later if that happens 545 Collins Way Bed Bath 12461 sq.ft Free Christie & Poff Keohlas 970 240MUME 270200 1420 Challenge #2: The Fear of Not Finding Something to Buy The Advice: Waiting May Not Pay Off While experts project mortgage rates will gradually fal this year as inflation cools that doesn't necessary mean you CALL US TO LEARN MORE ABOUT OUR ADVANCED MARKETING LISTING SERVICES Possible Seller Financing! When so many homeowners are reluctant to take on a higher rate fewer homes are going to come onto the market. That's going to keep inventory low As Lawrence Yuni Chief Economist at the National Association of Realtors (NAR), explains Inventory will remain tight in the coming months and even for the next couple of years Some homeowners are unwilling to trade up or trade down after locking in historically low mortgage rates in recent years" Even though you know this limited housing supply helps your house stand out to eager buyers, it may also make you feel hesitant to sell because you don't want to struggle to find something to purchase The Advice: Broaden Your Search if fear you won't be able to find your next home is the primary thing holding you back, remember to consider all your options Looking at all housing types including condos, townhouses and even newly built homes can help give you more to choose from Plus if you're able to work fully remote or hybrid you may be able to consider areas you hadn't previously searched if you can look further from your place of work, you may have more affordable options Bottom Line Instead of focusing on the challenges, focus on what you can control Let's connect so you're working with a professional who has the experience to navigate these waters and find the perfect home for you bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! MONTROSE $179.000 TBD Buckhorn Road (Tract 2) 5.62 Acres with fabulous views Don Bargy 970 209.8257 BERKSHIRE COLORADO HATHAWAY PROPERTIES NOMESERVICES HELP US. HELP OTHERS SCHOOL SUPPLY DRIVE ENDS AUG 30 Call one of our trusted real estate brokers Trena Unrein, Brian Unrein, Autumn Blamett, Don Bailey, Jeff Keefuss, Kree Christi, Lnda Stel Makaya Cervone, Michael Scott Dosch and Donna Justin SELLERS : DON'T LET THESE TWO THINGS HOLD YOU BACK Many homeowners thinking about selling have two key things holding them back That's feeling locked in by today's higher mortgage rates and worrying they won't be able to find something to buy while supply is so low . Let's dive into each challenge and give you some helpful advice on how to overcome these Challenge # 1 : The Reluctance to Take on a Higher Mortgage Rate According to the Federal Housing Finance Agency ( FHFA ) , the average interest rate for current homeowners with mortgages is less than 46 ( see graph below ) 50 40 2 2 2 20 30 20 26 % 10 44.7 % MONTROSE $ 494,000 BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES 20.3 % 1649 Wetterhorn Street Bed 2Bath12,166 sq ft Don Baley 970 209 8257 -3 % 3.01-4 % 4.01-5 % 501-6 % + 6 % But today , the typical 30 - year feed mortgage rate offered to buyers is closer to 796 As a result , many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost.This is a situation known as the mortgage rate lock - in effect 5.3 % COBBLE CREEK 3675,000 3.7 % 2 OPEN HOUSE ! Sunday , Aug 15th 11:00 am - 2:00 pm Hosted by : Donna Harville Justin should wait to sell Mortgage rates are notonously hard to predict . And right now home prices are back on the rise . If you move now , you'll at least best rising home prices when you buy your next home And , if experts are right and rates fall you can always refinance later if that happens 545 Collins Way Bed Bath 12461 sq.ft Free Christie & Poff Keohlas 970 240MUME 270200 1420 Challenge # 2 : The Fear of Not Finding Something to Buy The Advice : Waiting May Not Pay Off While experts project mortgage rates will gradually fal this year as inflation cools that doesn't necessary mean you CALL US TO LEARN MORE ABOUT OUR ADVANCED MARKETING LISTING SERVICES Possible Seller Financing ! When so many homeowners are reluctant to take on a higher rate fewer homes are going to come onto the market . That's going to keep inventory low As Lawrence Yuni Chief Economist at the National Association of Realtors ( NAR ) , explains Inventory will remain tight in the coming months and even for the next couple of years Some homeowners are unwilling to trade up or trade down after locking in historically low mortgage rates in recent years " Even though you know this limited housing supply helps your house stand out to eager buyers , it may also make you feel hesitant to sell because you don't want to struggle to find something to purchase The Advice : Broaden Your Search if fear you won't be able to find your next home is the primary thing holding you back , remember to consider all your options Looking at all housing types including condos , townhouses and even newly built homes can help give you more to choose from Plus if you're able to work fully remote or hybrid you may be able to consider areas you hadn't previously searched if you can look further from your place of work , you may have more affordable options Bottom Line Instead of focusing on the challenges , focus on what you can control Let's connect so you're working with a professional who has the experience to navigate these waters and find the perfect home for you bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! MONTROSE $ 179.000 TBD Buckhorn Road ( Tract 2 ) 5.62 Acres with fabulous views Don Bargy 970 209.8257 BERKSHIRE COLORADO HATHAWAY PROPERTIES NOMESERVICES HELP US . HELP OTHERS SCHOOL SUPPLY DRIVE ENDS AUG 30 Call one of our trusted real estate brokers Trena Unrein , Brian Unrein , Autumn Blamett , Don Bailey , Jeff Keefuss , Kree Christi , Lnda Stel Makaya Cervone , Michael Scott Dosch and Donna Justin