|Interesting when you look at the numbers. What does this mean to you? Houses are still selling. Houses are not losing value overall. There are fewer sales overall, but prices are still high. If you are thinking of selling, this is a great time, but it might be different than the stories your friends told last year. It might take a little longer and you might negotiate some stuff. You might also need to paint and spruce the place up a bit as there is more available inventory. But you will still get a higher price than you would have this time last year. |
One other bit of advice, if you are waiting for prices to come down before you buy or waiting for whatever other situation to happen, you may shoot yourself in the foot. There is no sign of price decline. Interest rates are stable-increasing. In other words, they jumped big, retracted and are now going to fluctuate up a little or stabilize. Plus, you may be able to negotiate more now than you could in the last 3-4 years on repairs, closing costs and other things. People are not prepared to be on the market more than 3-4 days and, because of this, will give more.
If you have any questions or want to talk more about this, call me. 615-668-2353
Originally published on September 21, 2022.