Quite a few people have asked me about the recent volatility of interest rates lately – And their questions are valid…
Interest rates have shot up significantly after the recent election. In November alone, they went from 3.47% to over 4%.
The bad news is that this volatility is expected to continue. There have been a lot of changes recently and volatility always accompanies change. But the good news definitely outweighs the bad…
Significant tax breaks have been promised, which could reinvigorate luxury home sales.
If there’s a trickle-down effect, this could also stimulate the sales of the entire housing market as a whole.
And if regulations become less stringent, home buyers will have an easier time obtaining mortgages and construction companies will be able to build more new homes to meet the inevitable demand of upcoming millennial buyers.
In summary, the Fed is planning at least two more rate hikes for 2017. So even with all of the good news listed above, smart buyers will likely be planning to settle into a new home before these hikes happen.
Furthermore, I’ve spoken with so many people who’ve told me that they’ve been waiting on the sidelines for the results of the election to pass. Well, now that it’s over, they’re going to be entering the market soon.
How The Election Has Affected Upland Home Values
The bottom line, lots of external factors have caused your home’s value to change and many of the homes in Upland are now valued at record highs – But change is coming, and it could come very soon. So if you’re planning a move, I encourage you to start planning for it now.
If you’re curious to know the current value of your home, I have a tool on my website that will give you an estimate in about 15 seconds. To access the home evaluation tool, click here!
And if you’d like for me to confirm the value or explain the results, just call or text me anytime! 909-921-2544. I can give you a quick call or we can talk about it over coffee or lunch.