Ash Sells Athens

1st Pre Approval of the year locked in! 🔐🙌 Let the house hunting begin

Are you ready to make your big move this year? Call me we need to talk! 📲

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The most common question I get asked is
"How is the real estate business/market right now?"
Me: A bit slow Them: "Why?"
The short answer...
1. Today’s Mortgage Rates have created a Lock-In Effect
2. Fear mongering perpetuated by friends family and the media
and
3. Low inventory

Want the long answer? Lets do it...
The first is the mortgage rate lock-in effect. Basically, some homeowners are reluctant to sell because of where mortgage rates are right now. They don’t want to move and take on a rate that’s higher than the one they have on their current home. And honestly why should they 🤷🏽‍♀️ if their current home is serving them well and staying makes more sense than selling for their family then thats what they should do. Their equity will just continue to build until they're ready to cash in and upgrade 💰👌

The next thing that’s limiting market activity is the fear that’s been created by the media and also yes your well meaning friends and family. You’ve seen the negative headlines and rumors calling for a housing crash, or the ones saying home prices would fall drastically. While neither of those things happened, and dont look to happen anytime soon, the stories have discouraged many buyers and sellers to think it’s better to hold off and wait for things to calm down or fall down 🤦🏽‍♀️. Therefore people who would make a move otherwise now feel hesitant to do so.

What’s further slowing the market is limited inventory. Higher material costs, supply chain issues and labor shortages stemming from COVID all negatively impacted housing inventory. But this problem existed before the pandemic... Essentially, the market has failed to keep up with the demands of an increasing population.

But despite all the above the market isn’t doomed even if the headlines are. Money moves are still being made by those who are not afraid to jump out there and go after what they want! As you know with great risk comes greater reward ✨️

How do you feel about this current market? Leave a comment for me