Welcome to 2018 friend! I appreciate if you are reading this and following my content. My dream, my goal, is to reach 130,000 people in Murfreesboro, TN. If you are reading this and you like it, please pass along what I am doing.
I want to be the #1 source of digital real estate content in Murfreesboro, TN. I want to build a platform of engaged followers that believe what I believe. I believe that most people have uncertainty and fear that controls them from making crucial decisions in their life. I am here to eliminate that fear and provide you with certainty. I also believe that money follows attention. So, I want to be Loud, I want to be Proud, and I want to be your Real Estate Agent of choice.
So, what are the 5 things you need to know before you buy real estate this year? I want to set your expectations because I believe the more information you have and the more information you know will ONLY help you make better decisions.
If you are going to buy a home in 2018 UNDER $250,000: You need to anticipate being in a multiple offer with competing home buyers. What does multiple offer mean? It means there are other people trying to buy the house that you want. Murfreesboro has a VERY scarce supply of homes under $250,000. The reason why there are so few homes out there is that New Construction is not filling that market. Builders can’t develop the product, put it on the ground, and build houses under $250,000. So, when homes do come available, you have to JUMP on it.
If you are buying OVER $450,000 you are probably going to have some flexibility. You won’t have the same urgency you have to have if you are buying UNDER $250,000. I still believe most sellers and builders are anticipating 97, 98, and 99% of net list price but there will be a little more supply because of everything that gets developed and produced, is a product OVER $400,000. So, there is more flexibility. The reason why I sharing information under $250,000 and over $400,000, most people say the real estate market is doing great. Yes, it is doing great but some price points do extremely well where other price points don’t do the same.
If you are buying a house in Murfreesboro, TN, I highly HIGHLY recommend using a local lender, local mortgage company (like Belinda Arender of Iberia Bank Mortgage), or bank. They will have your best interest in mind. But here is why it is so important to use a local lender. A listing agent will look at the contract. If they see a lender that is out of area or an internet loan, they will have uncertainty if the home will actually close. The lack of uncertainty that the listing agent has will transfer to the seller and will make your chances of winning the deal a lot slighter.
I am not an economist but I do expect rates to rise this year. I would not be surprised if by the end of the year, if rates have risen by half to three quarters of a point, maybe even a full point. We may see rates back up to 5%. What this will do, if you are buying the same home your purchasing power is decreasing. What this means is if you are approved for $300,000 at 4%, you may only be pre-approved for 468 or 475 if it went up a point. Just anticipate the rates will go up. Do not panic. I do not believe it cause a huge problem unless we go up a lot more than that. When I say a lot more, I mean if we go up by 2 points or a point and a half, I think that will create a slowdown.
I do not understand why buyers do not interview their agents that they know, like, and trust. Most consumers/home buyers will look online for 12-18 months before they make a decision. Once they get serious, they pick out and identify an agent within 72 hours. How much can you trust somebody when you do not know them? Whenever there is a lack of trust, every decision gets more complicated. Every decision gets tougher. Sometimes the agent can be telling you something that is right, you may not know them. Sometimes they may tell you something that is wrong and you may believe them. I am telling you it is your job to go out and find the agent that you trust.
Everything we do, we BELIEVE in challenging status quo-we BELIEVE in thinking differently.
We combine our bold marketing movement with our ability to assist in regulating your emotions as well navigate you through the process.
Our mission is to take you from confusion to clarity and to position you in a point of leverage whether you’re buying or selling a home.
We are CERTAIN our system works. Are you thinking about buying or selling a house? The market is moving fast and I want to help you. What is stopping us from working together?
Tommy Davidson, also known as Good Time Tommy #GTT, is a real estate entrepreneur in Murfreesboro, TN. He focuses on building relationships and self improvement. Learn more about Good Time Tommy at www.GoodTimeTommy.com. Watch Good Time Tommy on his weekly shows called Real Estate 101 and Straight From The Gut.