The answer entirely depends upon your needs and goals. 

At the time of this writing, Bankrate.com is reporting that the average 30-year mortgage rate now sits at 5.42%.  This compares to rates in the low 3% range just two months ago.   That is a dramatic change. 

There is a tremendous amount of media coverage of the recent interest rate moves, and a lot of opining about whether it is a good or bad time to sell.  We have to be mindful of the fact that rapidly rising rates are making the cost of a home more expensive.  This dynamic will inevitably push some buyers out of the market and/or force them to make lower offers for the homes they are pursuing as money becomes more expensive to borrow.  Fewer buyers equates to lower demand and lower demand means lower prices.

Additionally, as sellers become more concerned that prices will fall due to rising rates, they will push their properties onto the market in a rush to “beat” the drop in prices.  They will also be inclined to make more concessions to buyers as they try to unload their properties before prices fall further.  A larger supply of properties on the market, and the sellers’ fear dynamic (a fear of missing out on higher sales prices and getting caught in a downward spiraling market) will also result in lower prices. 

The factors described above suggest that prices may continue to fall in the coming months and holding onto property with the hope that prices will continue to rise is becoming riskier. 

Sellers who are considering working with cash buyers like us to sell their home or other property should consider important questions such as:

(1)    Do you need or want to sell your house or other property quickly (with no realtors involved) regardless of the direction of interest rates?

(2)    Do you believe that interest rates will continue to rise, resulting in lower property values in the future?

(3)    Is the house or property an ongoing liability for you (are you regularly losing money on repairs, property taxes, mortgage expenses, etc.)?

(4)    Do you find managing the property very difficult and stressful?

If the answer to any of these questions is “yes” then it would make sense to seriously consider working with a cash buyer to sell your property in the current market. 

We have been working with sellers who have a desire to sell their home or property quickly for cash in all types of real estate markets over the last 12 years since we started this business.  We would be happy to speak further with you about your house or other property and your goals to see if we are a good fit. 

Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.