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3 Reasons To Sell Your Home Now

By Elizabeth R. Elstien

Now is the time to sell your free-and-clear home; one that you owe no mortgage on. We're not talking about a short-sale where you still owe money to the bank and will sell for less than the mortgage owed, and could take months to sell. No, this is a regular, conventional sale that most have forgotten about in this day of foreclosures, short sales and REOs. But they still do exist, just in much smaller numbers than several years ago when the market was good.

Do you own a home that you have no mortgage on? Perhaps it's a single-family home, condominium or townhouse that you inherited or use as a rental. Maybe you have a second home that you just don't need any more. Empty-nesters may just want to scale down to a smaller home. Read on for these three compelling reasons to sell your free-and-clear home now.

  1. There's a shortage of homes without a mortgage on the market. Real estate agents all over are noting they have buyers for free-and-clear homes but have a shortage of these properties on the market. As this is not a short-sale or REO that could take months to sell and is subject to lender scrutiny, homebuyers are craving these conventionally sold properties to purchase.
  2. Low interest rates. The still-low interest rates make it very affordable for many to get a mortgage loan. The time to sell is before the interest rates climb, which will make it prohibitive for many homebuyers to get a home loan. Also, if you will need to buy another home, the low interest rates make it reasonable to do so.
  3. Homes are moving quickly. With a scarcity of homes with no mortgage on the market, a properly priced home should quickly sell. As you own the home, you could opt to carry the mortgage for the right person, depending on the real estate market in your area. However, most likely you will get a homebuyer who can comfortably get a loan or, even better, can pay cash.
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About The Author

Elizabeth R. Elstien has worked in real estate for over 15 years as a real estate...

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