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Should You Sell Your House? | Is Now The Right Time To Sell Your House For The Best Possible Price?

so should you sell your house right now

okay that's a that's a powerful question

that a lot of people are asking

themselves right now so we're gonna talk

about it in today's training hey

everyone it's Mike Adams and on this

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of our future content so in today's

video guys we're gonna be discussing

should you sell your home right now you

know you know during 2020 here right now

and this is a powerful question and as a

matter of fact this is a question that

almost half of Americans are actually

asking themselves I saw a report that

47% of Americans are actually

considering selling their home right now

and there's a lot of different reasons

as to why you know people are thinking

about them and we're going to talk about

you know some of those reasons but then

as well I want to give you kind of the

counter-argument to it you know and why

you may not want to sell because again

there's a couple of really good reasons

why now might be the best time to sell

but on the other side of it you know it

might be the worst time to sell

depending on your plans or your

particular goals so one of the reasons

why it might be a good time to sell is

because interest rates are incredibly

low okay as we know our interest rates

are at historically the lowest that

they've ever been I think for our good

friends over at the Federal Reserve just

kind of taken the interest rate lever

and just lorem that rate you know in an

effort to just flood our economy with

liquidity right so they want the banks

to continue lending and so they want to

make borrowing as inexpensive as

possible so we're seeing very very very

low interest rates and many folks if

they have really really really good

credit and they can still qualify for a

loan you know they can get sub 3 percent

on their more

so a lot of buyers are seeing this as an

opportunity to get into the market or

get into their property and get locked

in at the lowest possible interest rates

so people do want to buy right now so

they can take advantage of these low

rates meaning you should have no

problems selling your house okay you

know the second reason why it might be a

good time to sell is because the prices

are still high okay I'll use the term

inflated as we know there's a lot of

artificial inflation going on with the

Federal Reserve and this constant QE of

these programs that are going on well

they're just printing printing the

dollar not so much into oblivion but

into a scenario where it's made the

markets a pure lot stronger than they

might actually be but as it stands right

now your property value is still pretty

high so if you're able to sell now this

will probably be okay the highest amount

that you'll be able to sell the property

for your equity position is probably the

highest that it's going to be because

there's a lot of folks I do think that

real estate prices will correct again

we've talked about the forbearance is on

this channel and how millions are not

making their mortgage payments we've

talked about how at the end of these

forbearances many many folks you know

will not be able to get caught up

they won't qualify for deferment so they

might get kicked out their house that

might be forced to sell which could then

if people are selling at less of a price

it's gonna start driving down the prices

on the grave of the command for your

property so let's say you got a $500,000

house and you're looking to sell and you

know you got two people you know within

you know let's say half a mile of you

that have a roughly similar property and

they just had to sell theirs for 425

because they're facing foreclosure and

facing bankruptcy and they got to get

out of this property before they get

kicked out well guess what the new comps

are gonna be for your house it's gonna

go down so with the chance of that

happening you know in the near future

now might be the right time to sell your

home if you're looking to sell it at the

highest possible price okay and the

third reason why it might be a good time

to sell is if you

currently struggling to make those

mortgage payments okay and obviously we

know that there's forbearance programs

going on and perhaps you're utilizing

one of those programs right now but

maybe you've lost your job you know

maybe your business totally shut down

and you know they've told you hey we're

probably not opening back up and maybe

we were to center like okay yeah I might

be in forbearance right now and I might

have some time here but I'm not seeing

how I'm gonna be able to get caught up

I'm not seeing how I'm gonna qualify for

deferment where they stick these missed

payments on the end of the loan you know

I might be in a spot here once my

forbearance period ends maybe I want to

sell right now so that way I don't have

to kind of you know face that pain when

it comes or face the ability or face

face that scenario where you don't have

that lump sum when you got a deal with

the bank on their terms maybe you don't

want to deal with that I mean like you

know what I kind of see what's happening

I kind of can forecast my own future a

little bit here and I'm gonna struggle

to get caught up you know maybe that

makes it a good time to sell because

again you can get the highest possible

price for your property and not have to

deal with a bankruptcy not have to deal

with the foreclosure or potentially you

know short selling your own home so

those are you know three pretty good

reasons that you may want to sell your

house but on the flip side of that okay

on the flip side you know what are three

reasons why you probably don't want to

sell your house okay um you know on the

sales side it's like you know yeah it's

great that you can sell at the highest

possible price right now because

everything's still inflated but what

does that mean for you if you were now a

buyer okay so the number one reason to

not sell is if you're wanting to buy

you're gonna be also paying at the

highest end of the market okay so you're

you're selling high but if you're

looking to buy a game and you're looking

to buy right now you're gonna be buying

high unless you can find something that

has yeah again maybe it's a fixer-upper

property where you can build in some of

the some of the equity or you find a

really nice you know under market maybe

off-market property that you can that

you can buy after you sell your house

here you sell your current house here

and you're able to buy

new house at under market value that

that's cool but if you're selling here

just to buy here into a new property you

know that might be a reason to kind of

okay well maybe instead of dealing with

all that maybe I should just stick and

stay where I'm at right now

okay so again if you're looking to sell

them buy again again you're gonna be

paying a premium you're gonna be paying

an overinflated market price for a new

house which again as a seller that's the

incentive to sell right now is again

everything is overinflated you'll get

the max value for your property so

there's a flip side of that if you're

gonna be the one buying okay another

point of why it might be a good idea to

stick and stay where you're at is

because lending standards are going to

go up okay and again right now okay the

Fed has the right super super low they

want the banks to lend as much money as

humanly possible they want to bury

people with debt that's their goal so

that way they get more interest but they

want that money going out but as more

and more people are in forbearance

programs they're losing income streams

you know they've lost their job or

they've lost their their part-time job

and now they're just on their primary

job and you know again they're just

they're their cash flows is now less and

as well you know with the pending

mortgage defaults that really might

happen there's going to be a raising of

lending standards and we're already

starting to see that you know many banks

right now they're not offering helix you

know some banks are just not even taking

applications anymore for equity lines of

credit or equity loans and as far as

qualifying for a new mortgage you know

now the standards are higher you know

you're looking at a minimum a credit

score of 700 minimum of 20% down which

again that is gonna push some people you

know out of the out of the pool of

people that have the ability to buy a

property and so if you were to sell your

property now okay and now you're gonna

look to buy a property let's say okay

I'm gonna ride I'm gonna sell now I'm

gonna try to ride this out and then next

year I'm gonna try to buy just know that

less people are actually gonna qualify

for loan

you know as more and more businesses go

bankrupt you know as more and more

people start to default on their

mortgages and loans you know these these

lending institutions are not gonna want

to take on as much risk when there's

more and more people defaulting left and

right so if you're at all worried about

job stability or anything like that it's

probably not a good time to sell because

if you even think a little bit that your

position could get slightly worse you

know in the next six to twelve months

again it's gonna be tougher for people

to qualify for a loan so if you

anticipate some instability with your

income you may want to think twice about

selling even though you can get that

premium price it'll be much more

difficult to buy a new home later ok and

probably for several years after things

start to correct so again guys should

you sell your property right now and the

answer is maybe you know it depends on

several different factors and obviously

you gotta you know evaluate that for

your own particular scenario but there's

a couple of really good reasons to

selling right now it is a seller's

market you know the prices are still

really really high inventory has stayed

you know for the most part fairly low

and again people can qualify for loans

right now so any people want to get in

right people want to get in and get this

low interest rate maybe they were

thinking about buying a house but now

that the rates are so low they want to

get in and buy a property so you know

chances are if you list your house with

low inventory right now and as well

people having the ability to still get

loans you could end up with bidding wars

and getting certainly asking price up

for your property if not higher right

now but that window is going to be

shutting very very very soon as again

business bankruptcies start to pile up

as more and more people begin to default

on their loans and especially on their

mortgages it's gonna make lending more

difficult to come by and as well we

might end up with a flood of houses on

the market ok if there's a bunch of

people going into mortgage default you

know right now low inventory but if all

of a sudden people are going into

default left and right and they need to

sell their house quick well now there's

a ton of

venturi which again is going to change

it from being a seller's market into

kind of a buyers market where they're

able to buy a house at less than the

inflated price that it's at right now so

you definitely gotta weigh the pros and

cons of both sides of it anything about

your particular scenario there's several

reasons why it might be the right idea

to sell your property right now but

there's also several reasons why it

might make more sense to stick and stay

depending on what you think your future

income stability is gonna be like and

your future ability to qualify for a

loan because those standards will be

going up so hopefully you guys found

value in this training and in this

discussion I'm certainly curious to hear

what you guys think you know do you

think right now is the best time to sell

your property or do you think it's a bad

idea and should you stick and stay okay

make sure to put that in the comments

below and I will see you in the next

video

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