It's Been a Great Year and We are only in August!

For several months now, I have been abuzz with stories of multiple offers over asking price and homes going under contract within a matter of days. So it comes as no surprise that the Wall Street Journal recently reported in the article Home Prices Reflect Strengthening that home prices in the second quarter rose from the previous year for the first time since 2007. Home sale prices rise when there are lower levels of housing inventory. When inventory levels drop, it signifies less competition for the home seller and limited choice for the buyer. Additionally, incredibly low interest rates and renewed confidence in the economy are compelling buyers to act now. With these elements in play, the competition between buyers who have their sights set on the same dream home can become fierce.  According to the Wall Street Journal's quarterly survey of housing market conditions in 28 U.S. metropolitan areas, inventories of unsold homes have fallen in every market and are down by more than 20 percent in two-thirds of those markets. To see if this movement is occurring in your community of interest, give me a call.  For those who are thinking of selling their home, this could still be an opportune time to act, especially for those who have built equity in their home. Stories of home sellers making a profit on their home's sales have also been on the rise, and buyers continue to be attracted by historical low interest rates. I can help you determine if now is the right time for you to sell your home and conduct a competitive market analysis, identify the inventory levels that will impact you, and advise you on appropriate marketing and pricing strategies.    Make the necessary improvements to your home before placing it on the market. Properties that are in good condition and are move-in ready are moving more quickly. I can also advise you on which improvements will have the most impact. The late summer and early fall have historically been known as slower selling seasons compared to spring, but this year I have to disagree. If you want to move now, call me today!