Every industry article I’ve read lately has been adamant about our desire to be home owners: The American Dream is still alive and well! Survey after survey has shown first time home-buyers and renters are actively seeking to buy a home over the next 12 months, but there are a few things holding them back. There will always be worry over interest rates, loan programs and our own financial vulnerability, but mostly (and especially in our local market) the lack of affordable inventory and rising home prices are the largest obstacles.
On one hand, we want a shortage of inventory. When demand exceeds supply, prices increase – and increasing prices are a good indication of economic recovery. On the other hand, we want our sons and daughters to be able to buy a home in the same great place we call home! For the housing market to continue its recovery, it is critical that housing is available and affordable to meet the demands of buyers.
The trick is to keep a balance of buyers and sellers in the market – first time buyers ignite the market by buying, allowing the sellers to become buyers of another home – and so on.
Bottom line: Now is GREAT time to sell!! Price your home according to condition & location and you will be impressed by the demand!
Article Provided by: Maureen Nichols, Associate Broker, Team Member