Making 2023 your most prosperous year yet
In the Chinese culture, 2023 is considered the year of the Rabbit. The sign of Rabbit is a symbol of longevity, peace, and prosperity in Chinese culture, and it is not the year to take wild risks but rather to focus on building a solid financial foundation. To make 2023 one of your most prosperous years, I believe it’s important to have a solid plan.
Interest rates and inflation are the highest it’s been in decades. The stock markets are volatile and real estate sales have slumped. Although sales are below historical averages, inventory levels remain very low and homes that are well priced are selling very successfully. When it comes to selling your home, some little things can make a huge difference.
Here’s just a few tips to maximize your sale price:
Ensure your listing is launched with photos. Photos evoke emotion and when they are not available at the time of the launching the listing, buyers can move on to other opportunities.
When you can avoid having your realtor use a Lockbox. They are paid to sell your home so make sure they make effort to be present at all showings to showcase, answer buyers’ questions and sell your home for maximum dollars.
Do not allow your realtor to use other realtors to host your Open House. No one knows your home better and cares more than your listing agent. Features that make your home unique can be overlooked.
Mortgage rates have begun to ease, and we are starting to see some great deals on mortgage rates. Five-year fixed rates are being offered as lows as 4.89% and variable rates as low as 5.50%. When it comes to refinancing or renewing your mortgage consider the following:
Banks are not always the best option for a mortgage. Credit Unions do not need to follow the qualification criteria that banks must follow, and this may not only save you thousands of dollars in interest, but it may also make a huge difference in what type of home you can purchase.
Credit reporting agencies have changed how they determine your credit scores. Avoid utilizing credit cards as it has a negative impact on your score. A high credit score usually gets you a better rate.
Rather than refinancing your existing mortgage that may have an attractive interest rate, consider a 2nd mortgage, and then refinance in the future to combine the mortgages when rates are more attractive. This could possibly save you thousands in interest.
