The economy says, “It’s a good time to move up!”

If you’ve thought about moving up, down, or to another neighborhood, this may be your year. With mortgage interest rates low and home equity high, a move to a new home could be a smart financial move. Here are some reasons and benefits

1. Get more for your money with today’s mortgage rates

You can get more for your money with these historic low interest rates. You may even be able to get rid of mortgage insurance or other loan fees attached to your current loan making your new mortgage payment on a home upgrade similar to your current payment. Move up without paying more!

2. Equity in your current home means leverage

Equity in your current home means the possibility of

• little or no down payment
• lower interest rate
• lower monthly payment
• bigger or more expensive home for the same budget
• Easier qualification

3. Quick sale and top dollar for your condo, townhome, or starter home

Smaller homes are in high demand right now in most markets. If you are considering an upgrade, you should have little trouble selling your current home. In many cases, we are seeing multiple offers on starter homes. The combination of low interest rates and top-dollar for your current home means you should have more money for your move-up or move-over home.

4. Live closer to work and favorite activities

How much is your commute costing you, not to mention the loss of personal time? What if living closer to work and your favorite activities fit in your budget? What if you could pick up a vacation home at your favorite getaway destination? When you combine low interest rates, high equity, and a hot housing market, anything is possible.

5. Nothing stimulates the economy like housing

The number of homes bought and sold each month is a major indicator of our economy’s health. The federal government looks to the housing market to help stimulate the economy. 87% of an American’s net worth is in their home. Right now the only problem in the housing market is a shortage of homes for sale, particularly starter homes.