It appears as if the nationwide housing slide that we’ve experienced for the past 2 years may be coming to an end. Finally.
According to Bloomberg,
“Sales of existing U.S. homes jumped more than forecast in July to the highest level in almost two years. Purchases climbed 7.2 percent to a 5.24 million annual rate, the most since August 2007, the National Association of Realtors said today in Washington. The gain was the biggest since records began in 1999. The median price fell 15 percent.”
As I’ve said all along, the Rock Hill SC and Fort Mill SC housing markets haven’t been hit as badly as other areas of the country, but we’ve certainly felt the reprocutions. Now with the national housing market appearing to rebound, I would expect that we’ll continue to see an increase in existing home sales.
There’s still quite a lot of homes for sale, but the pace at which homes are selling has slowly picked up the past few months. And now with the $8K tax credit coming to it’s end on November 1st many home buyers are scrambling around, trying to find their dream home in order to take advantage of this credit.
So, if you’ve been thinking about selling your home, now’s a GREAT time to put it on the market!
Filed under Buy Your Dream House, Carolina Real Estate, Fort Mill SC, Home Buyers, Home Sellers, Market Trends, News Reports, Rock Hill SC by 
Even as the turbulent real estate market flips and flops, trying to make up its mind which direction it wants to go, there are still plenty of people either putting their homes up for sale or are biting the bullet and purchasing their new dream home.
If you’re on the fence about whether or not you should go ahead and purchase your new dream home in spite of the current economic conditions, here are 3 reasons why it might just be the perfect time to buy a home:
- You want to move up to a more expensive home. We’re most definitely in a buyer’s market right now here in the Rock Hill SC and Fort Mill SC area, so if you’ve had your eye on a more expensive home, now is definitely the time to act. I wouldn’t expect home prices to come up any time soon, but I also wouldn’t expect them to drop much more than where they’re at. That being said, you might not be able to get that dream home of yours at such a steal-of-a-price ever again!
- It’s a buyer’s market, plain and simple. If you’re not currently tied to a property or don’t have to worry about unloading your current home, then you’re definitely in the driver’s seat. Many home sellers are concerned about even getting a ‘fair’ offer for their homes, which plays to your advantage. This kind of market allows you to dictate more of the terms of the sale and in many cases, the seller is much more willing to listen.
- Interest rates are still relatively low. There’s been a lot made about how tough the loan market is these days, but in reality, if you have decent credit, can put down a solid down payment, and are serious about buying a home there’s absolutely NO REASON why you shouldn’t expect to get a good loan. In fact, rates are still extremely low when compared to historical averages and when you can lock in a good rate, you’ll be able to enjoy it for the life of the loan, no matter what rates do.
So, if you’ve considered making the leap and purchasing a new house in the Rock Hill SC or Fort Mill SC area, now is definitely a great time to act. We’ve been fortunate in that the real estate market has stayed relatively strong when compared to other areas of the country and with the advantages you hold as a home buyer, the time couldn’t be any better to take action and buy your dream home!
Filed under Buy Your Dream House, Carolina Real Estate, Fort Mill SC, Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Rock Hill SC by
