Asheville Region Posts Second Month of Slow Sales
By Sandra Kilgore, GRI, ABR, SFR –
Now may be a good time for buyers who have abandoned the market, to reconsider their home search.
With the slowing of home sales and colder months ahead, your chances of purchasing a home may be a little brighter. The increasing number of active listings, as well as higher average days on the market are providing potential price reductions for buyers looking to secure a home.
Please do not look at this as a time to go out and low ball. Instead, view it as great opportunity to have your offers considered. Sellers have been receiving nearly all of their asking prices as displayed by the original list price to sales price ratio of 99.3 percent. Of course, that does not mean that list prices are not negotiable. It is important to have an agent provide a list of comparable homes to justify your offer; also taking in consideration other market conditions.
Please keep in mind that the market is cyclical and ever-changing. One area to keep your eye on is interest rates. You can qualify for more house, or a larger house payment when interest rates are lower. However, when interest rate rise, so does your mortgage payment, which translates into qualifying for a lesser priced home. To avoid the balancing act, have your lender keep you updated on current rates.
Please feel free to contact Kilgore & Associates at (828) 515-1588 to receive your cost-free analysis on marketing your home. Allow us to to help you explore your future housing options to ensure that your next home best serves your needs.
Sandra Kilgore GRI, ABR, SFR
Office: 828-515-1588
Cell: 954-540-5593
