Spring is one month away – are you thinking about selling your Nashville home? If so, you’re going to want these tips!
1. Nashville is still a seller’s market
Inventory continues to remain low, which means Nashville seller’s do have an advantage. The lighter competition makes a home more likely to stand out and receive a lot of interest right away. Due to the high demand for homes, sellers are very likely to sell homes quickly -possibly even finding themselves in a buyers’ bidding war.
2. But buyers still won’t overpay
However, a common mistake among sellers is still overpricing a home. Once a seller has overpriced a home, it loses the initial excitement and momentum it could potentially receive when first listed. Just because the inventory is lower, does not mean home buyers are desperate to buy a house. Many home buyers are simply content to rent until the right property comes along.
3. Activity will increase in coming months
Although we have seen historic numbers in the real estate market over the winter, activity is already increasing with the warmer temperatures. We expect more homes to hit the market in the coming months in anticipation of school years ending and the promise of summer. It’s likely that homes will still move quickly, but any home seller looking to get ahead of the increased competition should consider listing ASAP and not later!
4. Curb appeal goes a long way
Just like pricing a home correctly, preparing it to sell adds to the bottom line. Home sellers who take the time to make repairs, clean extensively and add small enhancements will fair better than home sellers who try to save money and skip this part of the process.
5. Mortgage rates may rise
Mortgage rates have (surprisingly) held at low rates the past few weeks. However, most experts agree all signs indicate rising rates in the future. While the rates won’t scare away all the serious buyers, it may impact the overall number of people looking at homes in the months to come.
Want to know if it’s the right time to buy or sell in Nashville? Call DeSelms Real Estate today at 615.550.5565 and let one of our award winning agents answer your real estate questions!