The old adage of Supply and Demand make it a great time to purchase a home. Not many folks are looking to buy right now, which obviously affects the demand. As far as the supply side, although our number of homes on the market has been reduced since the initial economic downturn, there are still too many homes relative to the number of buyers.
To those who are looking, great for you! Do your homework and be tough in your negotiations. To those who are THINKING that they really would like a bigger home, or more privacy, or more yard or acreage, I ask "What are you waiting for?"
Here are 3 examples of great buys in Murfreesboro, TN:
1. A 1704 sq.ft. home built in 2000 with 3 bedrooms, 2 and 1/2 baths, a bonus room and 1 car garage sold 3 years ago for $126,500. It is now listing for $94,000 or $55/sq.ft.
2. Need more space? How about 2400 sq.ft., 4 bedrooms, 2 and 1/2 baths and a 2 car garage for $152,000? That's $63/sq.ft. It sold for $197,500 in 2005.
3. And this is my favorite since the land and location are top notch for Rutherford County. This 4200 sq.ft. home has 5 bedrooms, 3 and 1/2 baths, a 2 car garage, a workshop and 12.5 acres all for $299,900! Wow!
Not only are there plenty of deals to choose from, the interest rate has been historically low for a number of months-- under 5%. Put it all together and it just makes buying now a "no brainer."
There's no reason to wait. Start looking, and I'll see you at the closing table!
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