Fan District Real Estate Report: Q3 2017
We've officially breezed into October! With that, here is the much anticipated Fan District Real Estate Report. For all you fact checkers out there, it's only for single family homes and does not include multi-family or condos.
JUST THE FACTS
I'm starting to feel like a broken record! Low inventory, low inventory, blah, blah, blah. Did I mention that inventory is still low? We keep wondering when the market is going to shift, but we haven't seen it (yet) in the Fan. For now, demand is high and inventory is low. So your high school economics professor was correct ... prices are up!
Right now there are only 7 homes available in MLS. Prices range from $389,000 to $1,699,500
WHAT YOU CAN'T SEE
What you can't see in all the reports and figures ... additional buyers concessions! MLS only tracks seller concessions but what is missing is buyer concessions. In our current market you'll find many buyers making additional concessions, along with those over list offers. Those concessions often include:
- Waiving portions of the home inspection defects. Want to know how much? Well ... call me and I can whisper that into your ear.
- Seller possession after closing (at a reduced rate or free)
- Waiving all or some portion of the appraisal ... even with a mortgage. Yep, you can do that with a mortgage.
Want to know what your Fan home could be worth in this market? Reach out to me, Shane Lott with Lott Realty Group at Rashkind Saunders & Co. I have a proven methodology successfully marketing and selling Fan homes, providing sellers with top dollar.