All Is Fresh and New!
Flowers blooming and robins singing at dawn are sure signs that Spring is Here! All the trees are either covered in white and pink flowers or pale new green leaves quickly maturing to the healthy verdant green that we will all enjoy this summer in Chesapeake.
Home Buyers are also popping up this Spring!! Whether 1st Time Home Buyers or those looking to move up or down size, buyers of all types are touring Open Houses and calling me to see homes in Chesapeake and all South Hampton Roads.
Unfortunately, Home Owners seem still be enjoying their Winter Slumber. Those Home Owners waking up and listing their homes are finding quick success. Homes in Chesapeake are selling quckly
Sellers are needed!!! Buyers keep looking for home but finding very few to choose from in Chesapeake. In a recent update, the total homes available in Chesapeake are down to 1508 with over 600 of homes already under contract. Market time averaging is only 38 days.
The shortage of homes is true throughout Hampton Roads and most of the country.
NOW is the time to sell a house, whether purchasing a home in Chesapeake or moving to San Diego.
As a seller, you have the following advantages:
1) Still few homes to compete with for a buyer
2) Being the “new kid on the block”, like the freshest fruit at Farmer’s Market, you get extra attention paid to you.
3) House looks fresh and new with the early Spring flowers and flowering trees.
4) Capture buyers seeking a house prior to school ending or wanting a house in the area desired by the next school year.
5) Hot time for Relocation Buyers looking to close in early 2017.
6) Ability to be sold so YOU CAN MOVE to your new place!!!
For home buyers, one of the most misunderstood points of buying a home continues to be the amount of down payment required to purchase a home. Though it can be 0% t0 3%, home buyers believe they need a 20% down payment for any mortgage.
While military and former military can get 0% financing, anybody else can do 3%.
As a home buyer this is essential to know so that you don’t miss out while Mortgage Rates are low and before prices increase.
A sign that the housing market isn’t slowing down is the continued pent up demand. Stubbornly low inventories are causing some buyers not to find the house they seek. As long as there is pent up demand, there will be a need for home owners to sell and will keep prices strong to rising.
For Chesapeake and all of Hampton Roads, the low inventories, low rates and improving market has not been able to keep home sales up every month over the prior month or last year. Reports of home sales down is conditional(no homes to sell) versus systemic(housing market declining).
If you are ready to move, it is time to call. There is never a bad time to sell or buy real estate. With the market ever improving, it is only “a best time” to buy or sell.