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2017 Real Estate Market in July

Well you can look at any figures you want to, all of them will tell you, this is a sellers market like never before. Fewer people are listing their homes for sale, so prices have been going up over the entire year of 2017. Sounds like a good time to sell. But let’s look at both sides of the picture.

If you’re moving up to a larger house, you can sell your existing home for more money, but you’ll have to pay more for that next, larger home. On the other hand, if you’re moving down, that is down sizing, you’ll get more for your property, but only pay a fraction more for the newer, smaller home.

If you have investment property, you can win, and not have to worry much. Take the profit and run. Play the waiting game for prices to drop. Foreclosures are still on the rise. Homes of all sizes and shapes are meeting the courtroom, but not the market. Why the stock piling? It is driving up prices, but sooner or later, they have to go. This could be a win-win market for investors who want to enjoy a little cash in the bank until the market is ripe for buying. If investors took the cash, and put it in the bank all over America, that may be enough to drive down interest rates, which could add another advantage to those who choose to sell now and wait out the market.

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