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Wednesday, 26 February 2014
Beat the Spring Rush and Sell Your Home NOW!
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  I've been posting about the promising news coming out of the Brentwood, Tenn., real estate market for the past few weeks, so I hope you've been reading. If not, check back through some of my recent posts. To continue on that topic, I've asked Loan Officer Todd Wiggins of First Community Mortgage to write a guest blog about why you should list now, instead of waiting for Spring, if you want the fastest results. Here's Todd's expert advice: 

"The real estate industry tracks data on 'inventory,' 'pending sales,' and 'median residential price' to monitor activity in a market and to watch for trends. The most recent report from the Greater Nashville Association of Realtors shows us that while closings are up from this time last year, our inventories are down. Not surprisingly, the median residential price for a single family home in January has increased from last year’s $167,000 to $195,000. This is a simple lesson in Supply and Demand Economics. 

"Of the four basic laws of supply and demand, two of these are currently in effect. If you assume that demand has remained unchanged but concede that supply has decreased, the result is a 'higher equilibrium price.' In those areas where supply has remain unchanged but demand has increased, you get the same result.

"While 'inventories' of homes on the market will vary from town to town and even from neighborhood to neighborhood, we no longer find ourselves with the massive supply of homes that have kept our home prices and values down. Many of my clients in the past few months have struggled in finding the right home or securing a contract on the homes as they hit the market due to this lack of supply. I’ve seen full-price offers made on the first day a house is on the market still not win out. I’ve been encouraging those who have told me that they are preparing to list their homes in Spring to go ahead and list now. The buyers are there. You don’t have to wait. Those who do wait will find themselves listing around the same time as everyone else, thus losing that advantage of a limited supply.

"Are you considering a move?  First, get pre-approved for your next mortgage and then, make a listing appointment with a Realtor.  Chances are you’ll be pleasantly surprised to find what you could sell for, especially if you are able to list quickly and beat the Spring rush."

Take Todd's advice and beat the Spring rush! Your home will stand out and sell quickly at a great price! Call me and we'll get your home sold now!

 

Todd Wiggins
First Community Mortgage
todd.wiggins@fcmhomeloans.com
615-964-6714 x 225
615-554-1983

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Posted on 02/26/2014 9:53 PM by Jarod
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