Spring May be Cold this year, but REAL ESTATE IN TAUNTON IS HOT!
We had a cold winter, this is true, and I am helping more sellers and buyers this year than I have in the past 3 winters!
The Taunton River
Here are the trends- the short version:
First Time Home Buyers and Investors aren't out in droves as in the prior years. We are seeing more "move up" buyers or "downsize buyers".
Home prices are up in the Greater Taunton area- in 2 years the Greater Taunton area/Bristol County has seen home price gains of over 17% (source, Clarus Metrics)
Short Sales- substantially diminished- those who couldn't sell due to equity problems are seeing their equity grow.
Foreclosures- in 2008-2013, you could find them in better shape. I still work with Investors.. and they all say the same thing.. "there's nothing in this category that is worth buying, the low invetory of foreclosed homesout there are so distressed, they aren't worth it"
Interest Rates- the lowest rates in 8 years were in May 2013- 3.4%! (source NAR). This year, we will likely see rates between 4% and 5%. We may never see rates like last year in our lifetime again.
My best advice to Taunton area home buyers- don't miss the boat.. get off that fence! If someone told you your hair is on fire, wouldn't you do something about it?... waiting longer will likely cost you both in home price as well and monthly payment.
My advice for Taunton area home sellers Waiting can cost you!-especially if they are going to purchase another home..Doesn't it make sense to take advantage of lower interest rates when you buy? Your finances are important.-yes! You are waiting for more equity..I get this.. but while you wait, the home you will buy will likely increase in price and the loan rate will be higher.
Let me help you and we can run the numbers together.. I also will have the facts of record for you take a hard look at. Call me at 508-878-0917, no pressure or obligation-I promise.
Thank you for viewing my blog! And as always call me if you need anything!