If you have noticed in your neighborhood how things have changed from a couple of years ago, you are noticing a lot of movement and not a lot of inventory.
1. Demand is extremely high..homes are selling at a very fast pace compared to years past. In fact the National Association of Realtors showed the monthly increase of 9.7% over the same month last year. And for 22 consecutive months the total sales have been above year-ago levels.
2. Supply is starting to increase.. Many expect for this to increase as sellers escape negative equity that we have seen in the past. Selling now while demand is high and before supply increases will help you obtain your best price. I would be happy to tell you the absorption rate for your area, just contact me at email@example.com.
3. New Construction is Coming back.. over the past several years, you didn’t have to compete with new construction if you were a home owner on the market, because there was none going on.. But now more builder’s are jumping back in and these “shiny” new homes will again be competition. For example, Spring Creek Ranch, in Collierville reserve, developed by Gary Thompson with Boyle, they have had lot drawings again for their lots and have them all under contract. And this is just one example.
4. Interest Rates are Rising.. Interest rates have jumped over 1/2% since the beginning of this year. Whether you are moving up or down your housing expense will be more a year from now if a mortgage is necessary for your purchase.
5. It’s Time To Move On With Your Life.. how many have set back waiting for the market to recover? Now is the time to look at the reason you are thinking about selling and decide whether it’s worth waiting. You have more power over the situation than before to move on…
I would be glad to help answer any questions you may have about the process or the market. Contact me anytime at firstname.lastname@example.org
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