In a recent U.S. News and World report article, Brown Harris Stevens CEO Bess Freedman shared an overview on the current housing market and the important factors to consider when deciding whether to rent or sell your home.
"When deciding whether to sell your home or rent it out to tenants, consider the current local housing market, your personal financial status, where your move will take you and how long you'll be away." --- BHS CEO, Bess Freedman
According to a report published by realtor.com, the U.S. is short about 6.5 million single-family homes, causing an inventory crunch. Before putting your home on the market, Freedman urges sellers to consider:
- Mortgage rates are still high.
- Being a landlord is a big commitment.
- Length of time for your move.
- Market factors.
- Laws in your state.
Above all else however, she noted that regardless of a homeowner's decision, the current real estate market, an overall comparison of your financial needs, and the counsel of a real estate professional must be factored into the process. To read Freedman's full-length article, click here.
