- Interest rates are still low but are climbing. This creates a sense of urgency for buyers. Rate increases of no more than 1/2 of a percent are enough to price some people out of the market.
- Prices are UP and have stabilized (to some extent). 2013 saw huge gulps of price increases. Because it moved up so quickly we had some issues with appraisals. Now prices are still on the increase but not nearly as quickly. Plus we have the benefit of at least 6 months of higher priced closings in our history. This makes it much easier for an appraiser to give you the value you need.
- Inventory is very, very low--especially in the "first time buyer home" market. If your house is worth less than $150k (in Rutherford County), is in good shape and is priced correctly, you should sell it in days, not weeks or months. I have buyers right now that are driving around looking for homes that "look like they might be for sale soon" just so they can get a jump on the
- Spring is upon us! This is the best time of year to list. As the weather warms, sunshine comes out and things start to green up, people look for homes. It is a refreshing time of year. They also want to be settled before school starts back up.
- New construction is alive and well again...but they can't keep up with demand AND they are (typically) significantly higher than buying existing. Just the fact that builders are again building gives a local feeling of optimism and says our economy is in good shape again. Plus, if you live in a neighborhood where they are building currently, you get increased traffic. Someone may be drawn to look at a new home and see yours as a better bargain (especially if you fix yours up)
Thursday, March 6, 2014
Why NOW is a Great Time to List
I can't think of a more perfect storm of circumstances for you to list your home than right now (for most people). Below is a list of conditions that make this a fantastic time to consider selling:
If you are interested in just finding out what your home may sell for, let me know. I am here to be a resource for you. A well educated public is good for everyone. Have a great day!