Good Time To Sell
I feel like shouting from the mountaintops, “SELL YOUR HOME!” We realtors are having such a hard time finding houses for our buyers. This is still an incredible time to sell. There are so few homes for sale right now that multiple offers have become common this year, and remain so. I just heard about a home in Brookside that got THREE offers on the first day and it sold for MORE than the asking price. According to most recent market statistics provided by the Kansas City Regional Association of Realtors, inventory continues to decline, down about 6% from this time last year (and that was down from the year prior). Sellers definitely have an advantage in many areas of KC.
Rates are Dropping
According to one of my favorite lenders, Ed Rafferty at Community America Credit Union, “in the short term, rates are dropping.” He has a 4.0% interest rate on a 30-day lock on a 20-year mortgage. We caught a big break from the FED yesterday, and it should keep rates low and activity strong until they make a move again.