How Does Brexit Affect Home Sellers?

The U.K.’s decision to leave the E.U. has had a big impact on our real estate market. Low interest rates have kept the demand for homes high. Earlier this summer, the U.K. voted to leave the E.U., which has become known as the “Brexit.” This decision created heaps of uncertainty for our neighbors across the Atlantic, but here in the U.S., Brexit has been nothing but good news for our real estate market. With so much uncertainty, foreign investors wanted a safer place to invest than in the U.K. One of these places was the U.S. housing market. This pushed our mortgage rates down even further to almost unseen lows. In fact, we are now in the middle of the second-longest run of cheap mortgage rates in history. What does this mean for you as a seller? “ Low rates bring more buyers  to the market. ” These low rates are a big benefit if you are selling. They bring more buyers to the market, and the more buyers that are in the market, the greater the demand is for your home. This healthy demand will help you sell more quickly. The combination of low mortgage rates, high rent, and tax savings keep our demand extremely high. These ultra-low rates won’t last forever and may rise as soon as after the election. If you’re looking to take advantage of this unique situation while it lasts, let me know. Give me a call or send me an email and I would be glad to speak with you. I look forward to hearing from you soon.