We’ve heard it all, buy now, buy low, buy high- After last weeks’ event for the Carnival of Choices seeing all of the resources available and the recently released home sales statistics- I can tell you NOW is the time to buy, here’s why!
Prices are trending up and time spent on the market is trending down, it’s only a matter of time until the interest rates rise! If you plan to purchase a home or condo in the near future, now may be a good time to begin to get your finances and plans in order and schedule the meetings to get the ball rolling in order to take advantage of great interest rates and lower home prices. Waiting to long may result in higher interest rates than we’ve seen recently and also higher priced homes. Factors such as location, size, age and school districts can all factor in and ultimately have an increase on higher home prices.
Northeast Ohio and the entire state of Ohio are seeing RECORD numbers for home sales, ultimately resulting in more choices for buyers! In the last 23 month period, home sales and dollar values were consistently on the rise. The President of the Ohio Association of REALTORS was quoted as saying “Attaining 23 consecutive months of gains in sales activity is the longest stretch in uninterrupted growth in 16 years of tracking Ohio home sales, and is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long-term investment. “ The more that’s selling mean the more willing potential sellers will be to make the move and put their home on the market!
If you are a potential seller the decision to sell now could avoid an influx of homes hitting the market as the trends continue to climb. The most important thing to do is research! See what homes are selling for in your area, and consult a trusted agent to give you information on buyer pools and predicted changes!