I often wonder what causes the “switch” in business to be thrown from “off” to “on.”
If I had to guess, I would say that there are three significant factors that contributed to the current floury of consumer interest:
1) Amazingly low interest rates. Rates are so low now, they are barely significant. In many cases, there is not enough mortgage interest being paid to even consider itemizing deductions on an income tax return. And since mortgages are long term notes, a buyer can fix mortgage expenses for years to come.
2)Decreasing inventory. InCowetaCountyGeorgia, we are at about one third of the number of listings compared with the peak months of available inventory. Less houses for sale equals more activity per listing. We are now down to a four month supply of homes.
3) More seller flexibility. After years of adapting to the buyer’s markets, sellers are now entrenched in the mindset of doing whatever it takes to get the house sold. Sellers that negotiate with an open mind and a realistic attitude towards buyer concessions are getting the deal done!
We still have a long way to go, but at least now there is some light at the end of the tunnel.
And we are ready to roll up our sleeves and get to work. Bring it on!
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