Did you know? Approximately two-thirds of people have some sort of tech addiction! And it's not just the kids anymore. It's a lot of us! In today’s newsletter, we've got tips to NOT be a nomophobe, several free Special Reports for buyers & sellers, plus fun facts, an important message from the House of Refuge, and lots more. But first, a quick update on our local real estate market ….
Over the past several months, demand for houses has been strong, while housing inventory has continued to shrink, month by month – one metric we look at is the “Absorption Rate” (which shows how long the current inventory of homes available for sale would last, at the current rate of sales) -- in April of this year, we had just under a 2 month supply of homes on the market – as of this July, we have dipped down to a 1.4 month supply – and it seems to be trending lower. So it can be a big challenge for buyers to find homes to purchase. In this market, you need an experienced realtor on your side --we specialize in hard-to-find properties you won’t easily find online, like off-market properties, new "coming soon" properties, in-house "pocket listings", distress sales, and properties that aren't even on the MLS or Zillow yet. Call or text us, we can help!
The good news is, we’re seeing sellers slowly returning to the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains: “Seller confidence has been improving gradually … after five long months, sellers are back in the housing market” -- an important first step to solving the low inventory dilemma facing many buyers today.
Why is this good for sellers? A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don’t want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so.
Why is this good for buyers? Although it can be challenging to find a home in today’s low-inventory environment, the historically low mortgage interest rates provide a compelling reason AND opportunity to buy the home of your dreams now, before interest rates begin to rise.
Bottom Line. While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you or someone you know is thinking of moving this year, let’s connect today!
We want you to know that you may call us for any reason. And please call or text us (480) 734-8781 with the name and number of any friend, family member, co-worker, or neighbor who needs our caring, competent real estate representation to help in buying or selling their home. They'll be glad you did!
We truly appreciate your friendship and referrals. Enjoy your issue!
Austin & Lynn & the Goodale Realty Team at JK Realty
"Love The Home You Buy Through Us, GUARANTEED! Or We'll Buy It Back!"