Are you a fence sitter?
- Do you listen to the news every day trying to determine when the bottom of the
housing market will be? - Do you believe all the doom and gloom you hear on the news about the housing market?
- Are you unsure if now if the best time to buy?
- Are you constantly looking at new homes online wishing the time was right to buy your first home or move up to a larger home?
- Do you fear that buying a home today isn’t a good investment?
- Would you like to live the American dream and become a homeowner but are so busy sitting on the fence that the dream is passing you by?
- Have you heard the phrase...Should of, Would of, Could of?!
It’s time to get off the fence!
Today’s housing market is a once in a lifetime opportunity for home buyers!
The housing market in Murfreesboro TN peaked in 2007 for an annual median home price of $199,900. Since that time, our market has shown a slow but study decline in home value. While we have been buffered from the extreme hit in home values that some parts of the country have endured, our market here was not exempt from homeowners seeing their home values decline.
The housing market is in recovery! Every major price index is indicating that the housing market has hit the bottom and is now moving in an upward trend. The Murfreesboro TN homes market is following the national index and is also trending up!
This chart shows the slow decline of the housing market and home values for homes in the city limits of Murfreesboro since 2007. But the median home prices for the end of June 2011 show that this cycle is changing! Home values in Murfreesboro TN have started to trend upward!
Murfreesboro TN Median Home Prices - Areas 21,22,24,24
Nationally, home prices appear to be stable or appreciating in nearly every U.S. market. In August 2010, the national median home price was $182,600. This reflected an 11 percent increase over the low of $164,000 that was reached in February 2010.
“Home sales rebounded in 49 states during the fourth quarter with 78 markets – just over half of the available metropolitan areas – experiencing price gains from a year ago”
- February 2011, The National Association of Realtors
Mortgage rates are at historical lows again after a slight trend upward for the first half of 2011. However, experts predict that the extremely low rates that we have seen have also hit rock bottom and are projected to move up. Even slight increases in the mortgage rate an impact the monthly payment!
“The market is probably going to zig and zag a little for the next six months, but it’s not going to drop any further.”
-William Wheaton Professor of Economics and Real Estate MIT, Boston, Mass.
Home prices are more affordable than they have been in a generation! Mortgage rates are at historical lows! These two factors together create a housing market that is extremely favorable to buyers! Take advantage of this once in a lifetime opportunity by buying a new home!
Real Estate Forecast for Fourth Quarter 2011 - 2012 for the Nashville Murfreesboro TN area: +0.9%
-CNN Money Magazine
In other words, its time to get off the fence! The wait for lower home prices and/or lower mortgage rates is OVER! 
What are you waiting for? Call me today to start the process to buy your first home or move-up to a larger home!
Home affordability is at record highs!
BUT THIS MARKET WON’T LAST FOREVER...
Don't be left alone sitting on the fence!
Sherri
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