The global pandemic has seen mortgage rates reach record lows here in Nebraska, as well as across the country. If you have been on the fence about either buying or selling real estate, there really has never been a better time to be involved with real estate.
How Low Rates Help You
If you are a buyer, a low mortgage rate can save you hundreds of thousands of dollars over the lifetime of your loan, depending on how much you are wanting to spend. As a seller, you should know that buyers are looking to be aggressive and take advantage of the low rates, meaning your house likely will not sit on the market for long.
You might even find that you can are eligible for a 15-year mortgage instead of a 30-year because of the low rates, which will not only save you money, but help you become free from a mortgage payment much sooner.
Now is Not the Time to Hesitate
As the world looks ahead to recovering from the pandemic and the vaccine begins rolling out, mortgage rates are likely to rise again, meaning the real estate market will potentially slow down. If you delay buying, you could miss out on a great mortgage rate. If you wait to sell your current home until later on in the year, you might find that your house sits on the market for longer since there may not be as many aggressive buyers looking to purchase.
If you have been toying with the idea of either buying or selling a home in the North Platte area, don’t miss out on the best real estate market we have seen in years.
What’s Next?
Reach out and contact our team at Gateway Realty for help with all of your real estate needs. From discussing when to put your home on the market to tips on finding – and buying – your dream house, we will help guide you every step of the way.