Buyers are simply in a better place to buy homes today than they were even just a few short years ago for two reasons; they know locking in a low interest rate now is a smart move for long term wealth. And, increased job stability is spurring a desire for homeownership.
It’s no secret: inventory levels have been the one factor preventing the housing market from realizing its full potential. Buyers need to be ready to act with a mortgage preapproval in hand and an expert local Realtor. Sellers, if you have been considering a move, now is an optimal time to list your home.
Low Mortgage Rates
Mortgage interest rates are on a tear. In the bigger picture, 2019 has been the best year in more than a decade. If we include late 2018's higher rates the overall move is now bigger than the one seen in 2008/2009. - According to Mortgage News Daily, Sept 4, 2019.
Competition is expected to be fierce over the properties that are available. As a result, the average home for sale may receive multiple offers, making time of the essence for interested parties. Case in point: On local listings this year thru August, the average days on market fell 13% compared to last year.
Stay Ahead of The Competition
Buyers - Team up with a professional, full-time local Realtor who is dialed in the market and what’s coming for sale soon. Additionally, having your ducks in a row with financing is vital. Know your price range so you don’t waste time looking at unattainable homes. A preapproval is essential for strengthening your offer.
Sellers - An active market does not mean an easy sale! Now more than ever, listing your home with a local Realtor who has forward-edge marketing and technology at their fingertips, along with effective negotiating skills is paramount to a successful sale.
Ready to get started? Here are some helpful links: