After one of the weirdest years on record it's safe to say that the real estate world is coming back to life swinging. Months of lock-downs and the new reality of working from home have made the housing market boom. If you are going to be within your own walls for a while might as well make them walls you are in love with! So why is it a great time to sell, even amidst all the uncertainty of this year? Well, Team Gatlin is here to list a few reasons why.
#demandisback - Home buyers are out looking with a new vengeance. We have a long list of clients who have their own long lists of wants and housing desires. Stimulus checks have made it a bit easier for some folks to add to their down payment, and higher wages are letting pocket books open up a bit more. Knowing this it's no wonder why the buyers are hitting the streets running! As people begin to realize that working from home may be a long term event they are wanting to buy homes a bit further out and more suitable for their living AND work needs.
#whereareallthehouses - Inventory of homes is too low to meet the demands of the buyers. The fact that there aren't as many homes on the market cannot be fully attributed to the Covid-19 effect. Realtor.com states that the housing inventory in June was 27% lower than even a year earlier than now. It would seem that people are tending to live in their homes longer than past generations, in fact on average Americans spend about 13 years in their home before deciding to move. What this ultimately means is that the houses that DO list are going quickly, within hours to a few days even! It's a pretty sure bet that if you list at a reasonable price, your house is gonna be SOLD!
#pricesareup - Home listing prices are on the upswing. When you get a scenario where inventory is down and the need is great, well then, that makes for great conditions that are perfect for home sellers to get high prices. This may come as a suprise to some sellers, in fact some people predicted that the housing market would take a hit and prices would bottom out because of the pandemic. We are seeing firsthand that the opposite is happening! People are ready to BUY and they don't mind paying the high dollar. Can you put a price on a home that's going to be both domicile and workforce all in one??
#theratesarelow - Get ready for lower mortgage rates! Historically low mortgage interest rates are a pushing factor for home buyers. July 2nd, Freddie Mac's report showed an average interest rate as low as 3.07% for a 30 year fixed rate. This factor is huge! It can mean the savings of potentially thousands over the duration of the loan, no wonder mortage purchse apps have jumped recently!
#economyontheupswing - We are seeing signs of economic recovery. People are going back to work, this is a big positive. That means mortgages are being approved and the market is moving. Nationally, we are trending in the right direction overall. As consumers get back to spending those dollars there are many companies scrambling to keep up. This bounce back in activity is a positive note that directly effects the housing market.
#buyersareevolving - Needs for buyers are changing. Let's face it, people have been spending time at home in general, more so than ever before. Whether it be from working or just avoiding the outside world, people are flocking to stay in the walls of their own castle. This has sparked a huge need to upgrade the home. A dining room table won't suffice as an office forever, a new room is going to be necessary. Spending months locked in the house have shown people what is loved and NOT loved about their home. People that are actively buying are going to be looking at homes through fresh eyes, they are going to want a home that's going to be with them for the longrun of whatever this is we are walking through! Offices, more outdoor space for kids to play, room for homeschool aspects, all of these are becoming focal points that may have not been so before.
#technologyisonourside - We have great tools for selling! 3D virtual tours, Zoom meeings, face time walk thru's....all of these are exciting ways for realtors to sell homes differently than ever before! People can literally list their home, sell their home and buy another home from the safety of their own dining room table.
Let's face it, now more than ever the home is becoming the most important aspect of life. So why wait to find your perfect home? List today and let Team Gatlin find a top notch buyer for you! With a market such as this you're in a fine position to see your new home dreams come true! Give us a call and let us help you navigate your future! Leading Edge Real Estate Group Team Gatlin: 1423 Huntsville Highway Susan Gatlin (256) 424-5378 Fayetteville, TN 37334 Charlie Sullivan (931) 308-5309 Office (931) 433-4070 Vivian Fisher (931) 224-1928