The spring housing market is usually marked by heightened buyer competition, but this year, the market could be substantially more fierce. Here are some factors fueling the assertive buying flurry.

  • COMPETITION FROM LOW INVENTORY – The number of homes for sale this year, despite the improved COVID-19 numbers, is down across our entire region. With tight competition for homes, your Realtor® has the inside scoop on new homes for sale and can help you be the first to the table.
  • LOW-INTEREST RATES FUELING SALES – Even though interest rates are beginning to rise, 2020 saw the lowest fixed interest rates since Freddie Mac started reporting 30 years ago. If you don't hesitate too long, you still have a good chance of locking in a lower than average rate.
  • PEOPLE HAVE BEEN WAITING TO BUY – With the slow start to the 2020 housing market and the pandemic's unknowns, sellers and buyers took a 'wait and see' approach. Now that things have turned a corner, those who have been waiting to buy are ready to pounce.
  • NORTHEAST INDIANA GROWING FAST – Another factor fueling the hot housing market this spring is the recent attention given to our thriving, growing region. Northeast Indiana has been consistently highlighted over the last few years as an exceptional, affordable place to live. With low corporate tax rates, Northeast Indiana has seen a steady influx of new business, bringing new employees and their families to the area.

BUYERS, BE PREPARED TO BID!

Buyers, make sure you have your finances in order with pre-approval before starting your search. A Realtor® helps you create a winning bidding strategy to determine the best price to offer based on history, market analysis, and current conditions to ensure that you get the home you want for the best price! It is essential that if you're buying a home in an aggressive real estate market that you have the right Realtor® to fight on your behalf.

SELLERS, YOU NEED A PROFESSIONAL REALTOR!

In a hot seller's market like ours, Realtors® play a vital role. Their expertise and professionalism are invaluable when listing and marketing your home to get top dollar. In competitive multiple-offer situations, they are your fierce advocate, negotiating to get the results you want. When you work with a Realtor®, you have an expert looking out for your best financial interests.

The experienced Realtors® of Mike Thomas Associates understand the local market, its unique characteristics, trends and provide you with invaluable guidance throughout the home buying and selling process. Give us a call today!

#Selling #Buying #NE Indiana

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