Cost of Waiting to Sell or Buy

One of our fabulous partners here at Coldwell Banker®, Guaranteed Rate Affinity, keeps us informed of what is going on in the mortgage world. If you have ever said to yourself, “I will just wait until the market drops” or “I will wait until the rates drop” before you buy or list, then this chart is for you.  This is a breakdown of what it will actually cost you in the long run to wait.  Most people are fooled into thinking that if rates drop, it will be cheaper. On the other hand, some people may think that if home prices go down, then it will be best to buy. However, that is not necessarily true. Geoff lays it out pretty well in these graphs.  If you are in need of any mortgage assistance, GRA has a myriad of programs that they will explore to fit your needs. Call Geoff and tell him I sent you. He will be happy to help!