Many housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market. With Nashville home prices down over 30% since 2007 and mortgage rates at historic lows, homes have never been more affordable — but it won’t stay this way long.
I agree with the economist who expect home prices to flatten out by the third quarter and start climbing by next year…slowly, but surely. Also, homebuyers should have better access to mortgages as they get their finances in order and improve their credit scores.
Prospective homebuyers who’ve been sitting on the fence should consider the old saying “You make money when you buy your house, not when you sell it”. For those who are in a position to buy, and are looking for a new home…I believe the time is here to maximize your investment.
Dwight O’Neal, RealtyTrust Auctioneers, LLC