Consumers around the Snellville area are hearing the buzz about the market being a sellers market. In reality the market is making an upward correction and will soon be leveling off at a slight downward valuation of homes. With interests rates hovering around 4.5% , having gone up a full point in the last 6 months and expected to reach 5% by Christmas. Its is important for the smart seller to be aware that the buyers that were approved at those lower interest rates are going away, which is shrinking the buying pool. What does this mean? will The buyers with stronger credit portfolios are likely to have more buying power.
It is important to note that selling your home in this market on your own is very tricky. Homeowners are still encountering remote appraisal issues and feel that they are potentially giving up a lot to sell their homes. I personally haven't had issues with appraisal due to careful pricing opinions that I consult with my clients. My clients know what to expect, when to expect it and how we are going to handle any issue that comes our way.
There is another side to the current market for sellers in Snellville area. The shrinking inventory. As the market goes through the positive adjustment we are experiencing critically low inventory. The theory of supply and demand now comes to mind and with a low supply prices continue to rise and in turn cause the interest rates to go up. If you would like to hear more about my market predictions you can reach me personally at 770-316-1605 or visit my website at sellinghomesingwinnettga.com
