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House the Market?
House market correction? Is the housing bubble re-occurring? Will inflation ever end? How do I build wealth in this turmoil? Will my retirement hold up? How are my kids going to be able to buy their first home?
Hold up! Take a deep breath. The sky is not falling. You can build wealth even in these economically turbulent times. “House the Market” is dedicated to showing you how.[/vc_column_text][eltd_separator position=”center” color=”#ffffff” bottom_margin=”30px”][/vc_column_inner][/vc_row_inner][eltd_section_title animate=”yes” title=”Spring 2024″ subtitle=”House Market Update”][eltd_separator position=”center” thickness=”10″][vc_column_text]
Balanced Housing Market
The current housing market is “balanced.” It’s not a seller’s or buyer’s market. In addition to being “balanced,” houses are taking longer to sell. Buyers are cautious and a bit timid due to the higher interest rates. The sticker shock from rate hikes has worn off. However, many buyers are holding off in anticipation of interest rates adjusting down. When they realize that due to inflation, rates will only have a slight marginal decrease for the year, they will move into action. Overall, inventory is still low.
What This Means for Sellers
When a seller’s property is priced correctly and the home is presented beautifully, it will sell. Professionally presented homes sell 21% quicker than homes that are not prepared and presented well. The profit margin will be healthy, mainly if the property has been acquired for over five years. Sellers that have paid off their property will significantly benefit. They can leverage the proceeds into other properties or additional retirement investment funds.
What This Means for Buyers
Buyers can find an excellent deal to help make up for the increased interest rates. They must remember that the average interest rate since the ’90s is 7%. Any rate below that is considered excellent when considering the historical average.
Buyers have more negotiating power than we’ve seen for over two years. They shouldn’t be outlandish, however, because inventory is meager. There are not enough homes available for the number of buyers who are house shopping.
Thinking of selling your home this year?
Here is a video that outlines what you can do to improve the value of your home and increase buyer interest.
House Market News
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Video’s and Articles to Help You Make the Best Real Estate Investment Decisions
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Franklin, Tennessee
Single-Family Residential Real Estate Properties[/vc_column_text][eltd_separator position=”center” thickness=”30″ top_margin=”10″ bottom_margin=”10″][/vc_column][/vc_row][vc_row row_type=”row” content_width=”full-width” anchor=”” content_aligment=”left” css_animation=””][vc_column width=”1/3″][vc_column_text]Months Supply
Is the House Market About to Crash?[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]Average Sale Price
Are Home Prices Dropping?[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]Days on Market
[/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” content_width=”full-width” anchor=”” content_aligment=”left” css_animation=””][vc_column][eltd_separator position=”center” thickness=”30″ top_margin=”10″ bottom_margin=”10″][/vc_column][/vc_row][vc_row row_type=”row” content_width=”full-width” anchor=”” content_aligment=”left” css_animation=””][vc_column width=”1/2″][eltd_icon_with_text icon_pack=”font_awesome” fa_icon=”fa-calculator” icon_position=”top” icon_type=”normal” icon_size=”eltd-icon-tiny” icon_animation=”” title=”Did you know?” text=”A sellers market has six months supply or less. A buyers market has six months supply of housing or more.”][vc_column_text]
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[/vc_column_text][/vc_column][vc_column width=”1/2″][/vc_column][/vc_row][vc_row row_type=”row” content_width=”full-width” anchor=”” content_aligment=”left” css_animation=””][vc_column][eltd_separator position=”center” thickness=”30″ top_margin=”10″ bottom_margin=”10″][/vc_column][/vc_row][vc_row row_type=”row” content_width=”full-width” anchor=”” content_aligment=”left” css_animation=””][vc_column width=”1/2″][eltd_icon_with_text icon_pack=”font_awesome” fa_icon=”fa-calculator” icon_position=”top” icon_type=”normal” icon_size=”eltd-icon-tiny” icon_animation=”” title=”Did you know?” text=”The average annual home appreciation rate since 1991 is 4.4%?”][vc_column_text]
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