Real Estate Professional Network

According to a recent article in the Wall Street Journal, now is the time tobuy a home—but itmight not be for long.

There was a story in the Wall Street Journal about why this is an opportunemoment for people to purchase real estate. One reason is that “homeaffordability” is excellent right now. Realestate price drops and record-low mortgage rates have made the ratio ofhome price to income more than 20% below the average from 1995 to 2011, thearticle said. There is a vast inventory of unsold properties in most marketsaround the country, giving buyers their choice of homes to select from. Many ofthese listings are distressed properties, which include bank-owned foreclosuresand short sales that are going for less than homes sold in conventionalsales.

While these conditions are expected to remain fairly unchanged in theshort-term, the long-term outlook could experience a shift away from a buyer’smarket in the coming years. Real estateexperts believe there are a number of signs that a rebound is headed our wayand a housingturnaround is on the horizon. We could begin to see a decline in distressedproperties sales in 2013, WSJ reported of a Moody’s Analytics forecast, atwhich time home prices would start to inch up. And, in the next five years,industry economists anticipate a noticeable improvement in the distressedproperty scene. This would allow normal housing market motivators (i.e.employment, demographics, loan availability, affordability and psychology) tore-establish their place as the main drivers for home purchases in the U.S.

Nashvilleis one of the cities where it is currently cheaper to buy a home than rent acomparable place—there’s that extraordinary home affordability again. It posesa great opportunity for a Tennesseemarket buyer to get more bang for their buck. Entire single-family homesare available for the price of condo in many of the neighborhoods.  

Thinking that now might be the time to buy for you? Contact a professionalTennessee real estate agent to learn more about your individual options andhow to make the most of the present market.

DowntownCondos and Williamson County Real Estate

Exit Realty Music City is one of the upcoming Real Estate firms in MiddleTennessee with a team of talented agents specializing in all aspects fromLand/Lots to Estate homes. I can help with finding you the right home inWilliamson County although have a passion for new luxury condos. Please don’thesitate to call me or let me refer you to one of our other talented agents inour office. I won’t let you down.(615) 517-1189       

EXIT Realty Music City | 508 Autumn Springs Court | Suite 1B | Franklin| TN | 37067|615-807-1204

Each Office Independently Owned and Operated