Are you thinking about buying or selling a home?  This may be the best time to take advantage of a downturn in market volume and low interest rates.  Let's take a further look at both these items as it pertains to the Kingwood TX real estate market.  This detailed look at the market can be replicated throughout the Houston TX and Texas real estate market.  Of course there will be pockets that may be impacted negatively because of what is going on in the national economic market, but remember real estate is local, not national.

1.  A downturn in the market volume in Kingwood.  How does less volume in the local real estate market help me as a home seller?  The answer is simple, a reduction in the amount of competition.  Remember there is always people in the market searching for a home at anyone time for anyone reason.  These are qualified and willing home buyers needing something today.  If volume is down, that means less to choose from in the local real estate market.  In 2007, 1289 homes sold in Kingwood TX.  In 2008, 1033 homes sold in Kingwood TX.  The number of new listings also dropped from 2085 to 1902 respectively.  Less homes equals less options to buyers.  To decrease your days on market also take into consideration the condition of your home before placing it on the market.  How does the exterior of my home look when a prospective buyer pulls up to the home?  Could I spend a little to freshen up the mulch, add some color to the flower beds, or trim back overgrown hedges and trees to better showcase my home?  The exterior is the first thing the buyer sees and sets the tone early in a showing.  Should I nuetralize the paint color in my home to make it more appealing to a broader pool of potential homebuyers?  Can I declutter and stage my home to be more appealing?  Less volume, evaluating the condition of your home, and addressing buyer objections in advance makes this a great time to place your home on the market.  By the way, though volume is down in Kingwood TX, home prices have risen on avg. by approx. $3500. 

2.  Lower interest rates.  Buyers are in the market because interest rates are lower.  How does this benefit me as a home seller?  This is two fold.  First more buyers are entering the market to take advantage of the lower interest rates.  Secondly, wouldn't you like to take advantage of the lower interest rates in the purchase of the next home whether sizing up or down.  Low interest rates stimulate the market.  Taking advantage of these is key because it is cyclical because overtime the rates will rise again.  They will not be at these lows forever. 

So the next time you hear about how bad the real estate market is on the national news remember this blog post.  If you are thinking about taking advantage of this market whether buying or selling a home, contact Jeremy Williams of Keller Williams Realty Northeast at 281-387-7689.  Jeremy specializes in residential real estate in the northeast Houston area including the areas of Kingwood, Humble and Atascocita (Summerwood, Fall Creek, Eagle Springs, Lakeshore, Summer Lake Ranch).  To find out more about Jeremy's real estate services visit NE Houston Real Estate | Williams4YourHome.