Wednesday, March 26, 2008

Are we at the bottom?

Are we there yet??? That seems to be the question that I am asked multiple times per week. Has the real estate market made a turn for the better??? In my opinion, yes. I am starting to see more and more buyers pull the trigger on purchasing a home in the recent weeks. With interest rates in a very affordable position, many people are taking advantage of this opportunity, myself included. My new home will be the 3rd home purchase for me in just as many years. I am locked in at the lowest rate of all three homes that I have lived in the past 3 years. So for my buyers out there, yes it is a very good time to buy real estate in the Middle Tennessee area, but I wouldn't expect the cushion to hang around for very long. Remember, you don't know if you have hit a bottom until you start coming back up. Take advantage of the opportunity while you can. For my sellers, Hang in there! I know that many of you are stuck trying to sell your property before you can purchase a new one. It can be a very frustrating experience, I understand. I was in the same situation myself earlier this year. Like I said, hang in there and keep marketing. With Spring right around the corner and mortgage rates staying in the low digits, I strongly feel that things are going to get better in the coming months. If there is ever anything that I can do to help, please don't hesitate to call. Thanks for stopping by and God Bless.

Nick Woodard
Keller Williams Realty Franklin, TN