Federal Reserve System Chairwoman Janet Yellen recently proclaimed that we won’t face another crisis in our lifetime. It is true? Or is it the biggest warning sign yet? How urgent is it that you sell your home fast in Dallas?
Know Your Real Estate Cycles
Speaking at a recent event in London, Janet Yellen was bullish on the strength of our banks, even if she admitted some assets may be overvalued. Unfortunately we’ve seen time and time again that when the Fed is the most outspoken in trying to reassure homeowners, everything falls apart not long after. We saw it with Yellen’s predecessor, Ben Bernanke, right before the Great Recession in 2008 hit.
We’re also seeing trouble in the stock market, which other Fed bankers have said is overvalued, and is running on fumes. In the housing market, we see builders building like crazy, and interest rates headed up. All of these things have typically been signals of a pending downturn in the real estate market and leaves many homeowners wondering, “Should I sell my house fast?”
That doesn’t mean everything will come crashing down tomorrow. Real estate trends are typically rolling waves that first hit the fastest growing cities before impacting the wider population. Unfortunately, given the lag in real estate data being published, and frequent inaccuracies, the public generally isn’t made aware of a downturn until it is too late.
Is It Time to Sell Your Home Fast in Dallas?
No one wants to get caught in another housing crash. No one wants to see their home equity vaporized again, or their homes lost to foreclosure. If you plan to stay in your current home for the next 15 to 30 years, then there may be little to worry about. Eventually your home value should come back. Just make sure you have locked in a low fixed payment that you can afford to maintain.
However, if you may need to sell your house fast in Dallas or move in the next few years, then time is of the essence. Wait too long and your home equity could be depleted. If it drops too low, it could cost you to sell your home. Not many people want to pay someone else to buy their home, just to get out from under the debt, but it can become necessary. The higher interest rates go, and the more others become fearful of buying, the faster this will unravel.
Will you be selling or holding? Contact DFW Sell Fast today if you’re considering selling your house fast in Dallas. We offer cash for houses.