I’m not talking about the summer time here in Tennessee
I’m talking about the real estate market. Buyers continue to flock to the Clarksville Area . If you have not bought a house recently the rest of the article may sound completely insane. A question my clients often ask how much longer will prices increase at the current rates and will it always be this hard to win an offer. Many of this clients are making multiple offers a week at over asking price, sometimes over appraisal as well.
How I wish I knew the answer to those questions but unfortunately only time will tell. What I do know is that many thought it would slow down already they were wrong. Many never thought lumber prices would be this high and that interest rates would be this low.
No doubt about it a lot of factors have created this hectic market that seems to increase home values exponentially over night. The biggest two being a surplus of buyers and way too few homes for sale. (Sellers Market = great time to put your home on the market) Many homes go under contract the first 48 hours they are on the market. Be ready to make your move quickly. ( Be pre-approved and know what you want)
I know the best time to take action on anything is today for tomorrow never gets here and yesterday is always behind us. Ask anyone who has bought a home or invested in real estate and I guarantee you many of them wish they would have bought/invested sooner.
If you have been looking for a home or tracking the market over the last 6 months in Middle Tennessee I want you to make a list of the homes you were interested in, rather you made an offer or not, and look at their current value compared to what it was when you started looking just a few months back. You may be surprised at your findings. Feel free to share your findings in the comments or with me directly.
The main takeaway here is that there is no guarantee the market will slow down anytime soon and time has proven over and over again that in the run prices will be higher then they are at this moment. Yes market corrections do happen but typically in a decade prices are higher once more.
If you have any specific questions on the market in Middle Tennessee please reach out.
I am happy to help home buyers, investors, and anyone interested in learning more about real estate.