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All Aboard the Real Estate Roller Coaster - Change IS Coming!

Nashville Tn Real EstateMortgage interest rates are around 5.5% for a 30 year fixed-rate loan and there's talk of rates going even lower.  I have also heard the prediction of rates dropping into the 4% range soon. My clients have been asking me if that's true.  I really don't know what rates will do next.  They could go down but they could go up too.  I do believe there is a lot of pent up real estate demand in the Nashville area (and possibly other areas).  Many buyers are on the fence or want to "time the market".  

Nashville Tn Real Estate

Whether rates go further is really not the issue.  The recent drop in rates has fueled a noticeable burst in activity in the areas where I usually work - Nashville and Franklin, TN.  As long as interest rates stay under 6%, buyers will get off the fence and come out of the woodwork.  The supply of homes that has built up over the past several months will shrink.  As inventory decreases prices will start to go up and sellers will be less negotiable.  I see change coming and it's going to hit us like a ton of bricks.  This is great for home sellers, real estate agents, home inspectors, title companies and mortgage lenders. Home buyers better jump on this roller coaster before it leaves.  We've already seen the low point so it's only up from here!

While the views stated above are based on my observations in the local Nashville TN market, the video below speaks to where the market is heading on a national level.  Please watch Dave Jenks and Jay Papasan in "This Month in Real Estate".  

 

Nashville Tn Real EstateJump on the roller coaster now! Call Tiffany White at 615-260-5858 for your Nashville and Franklin TN area real estate needs!

Search all Nashville Area homes at www.TiffanyWhite.com

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Comment balloon 7 commentsTiffany White • December 05 2008 01:49PM

Comments

I like the positive post.  It most certainly IS time to get on board.

Posted by Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE (Keller Williams Realty Portland Premiere) almost 10 years ago

Tiffany - I'm with you on this. I believe the low point is long past, and the affordablilty of homes will bring buyers who are now renting back into the market. It's chaper to buy than rent in some areas.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) almost 10 years ago

Great theme for getting your point across.  At EXIT we concur that the bottom has been reached at least locally and things are going up.  The best thing we can do as REALTORS is advise those that are considering selling (unless the sale is required) of the down-side with the excess of inventory currently in the system, and help others avoid foreclosure, so that the inventory can get back to a more realistic number.  It benefits everyone if the absorption rate is on an upswing and we can stabilize the inventory.  Sellers can again realize positive appreciation and the fear of entering home-ownership will turn into enthusiasm and pride.

 

We as REALTORS are the conduit for the American Dream.  We shall neither hinder or exploit that dream! 

 

 

Posted by Mike Grumbles, The Relocation Engineer in Franklin TN (Gray Fox Realty) almost 10 years ago

Tiffany,

I too equate real estate to a roller coaster ride! Our market in Northwest Florida is picking up and has been since last summer. Good Post!

 

Xmas Gator

Posted by Connie Stoll, NW Florida Real Estate (Resortquest Real Estate) almost 10 years ago

I always tell them when they ask the "WHAT IS GOING TO HAPPEN TO THE RATES QUESTION" that I truly wish I had the crystal ball so I could tell them.  I tell them if I had the crystal ball and knew the best day to lock I would be a trillionaire (as would anybody who had that ball).  Do you know where I could get one?  LOL...

Posted by Mike Klijanowicz, Associate Broker @ Cummings & Co. Realtors (Cummings & Co. Realtors) almost 10 years ago

Tony, Larry & Mike - Thanks for stopping by & commenting

Connie - I figure that other areas are seeing what we are here in Nashville.  Good to know that things are picking up in Northwest Forida! 

Michael - You find the crystal ball and I'll buy the lottery tickets!

Posted by Tiffany White, Franklin TN Real Estate (Keller Williams Realty - Franklin TN) almost 10 years ago

Hi Tiffany!  Stay positive and get those buyers off that fence!  Now is the BEST time to buy real estate since I have been in the business--rates are at an all-time low and prices are as well!  You just can't beat this market.

Debe in Charlotte

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) almost 10 years ago

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