
SPRING!! It's hard to believe but Spring is just a month away! Are you planning on project in the coming month? The warm temps has me motivated to plan a garden and get the flower beds ready for the coming summer months. In my mind I am going to have this amazing garden including a separate spice garden and come August I will have canned and froze lots of things for next winter. We will see!!
Spring is also a time where the housing market tends to surge. Funny thing this past week I heard a saying I had never heard- the week after the Superbowl is the start of the real estate season. I would have thought they were crazy but this past week was much busier than all the other weeks this year.
So let's talk number and what is going on in the land of real estate. First the fear of the housing market crashing is just more of the media's way of causing a frenzy. The truth- This past week I had 3 properties to show and before I could make it to any of them, they were under contract. I'm talking 3 properties that had just hit the market and the prices were from $250-650k. So no the real estate market is not going away. Is it going to grow at the rate it has over the last few years- Nope, but is it going to continue to grow. According the National Association of Realtors (NAR) there is going to be a 1% national average growth this year. So should you wait- not unless you want to pay more money for the same house.
Other things that are affecting prices is interest rates. We are being told that by summer we will see the interest rates kind of level off in the 5%. I don't have a crystal ball so I am not sure about this one but we can be hopeful!
If you are kind of on the fence about buying or selling your home, just give us a call. We would love to talk with you about the numbers, get you in contact with a great lender, and see if spring is going to be your time to step into a new home or out of your home old.