Now’s the perfect to sell…and buyers…my best advice? Hurry!
Here in the Triad, Spring is in full swing! Inventories are extremely low creating obvious shortages in some price points and locations.
In fact, the last two properties I listed in March were under contract in just two and four days at asking price – with multiple offers!
Now that’s really moving!
Folks are combing the property search tools just waiting for new listings to hit. Many people are set up to get automatic texts or emails when a new property with their search criteria pops up. So, if you’re thinking about selling a property, now would be an excellent time! Contact me and we’ll get it listed and announced to the world – fast!
Now, with all this market enthusiasm for sellers…what makes this a good time for buyers, you ask???
Great question! There are several reasons you may want to consider hurrying into the market if you’re ready to buy a home. Interest rates are slowing starting to rise – but they are still quite low! The Fed’s increase in interest rates, (up a quarter of a percent in March), drove the average 30-year fixed mortgage rate to about 4.21% vs. 3.68% a year ago, according to money.cnn.com.
And, while the interest rates dipped slightly again, the current forecast seems to suggest the Central Bank is expected to raise rates a total of three times this year – which could drive mortgage interest rates to around 5%. That’s still VERY LOW, but why not avoid paying any more in interest, if you’re looking to buy now?
- Inventory is low, but more is being added now due to the arrival of Spring. Sellers know this is the time a lot of property sells, and they’re working hard to get more choices on the market for you. Savvy buyers benefit from that type of momentum!
- The weather is beautiful…making it all the easier to search for and get settled into your new dream home!
- It’s not too hot, and not too cold, the days are longer, and you can perhaps avoid the busy summer travel season so you can have your new home and your vacation too!
Happy Spring Friends!