There is a current trend taking place in Nashville that has many in the market feeling overwhelmed. With the price of homes continuing to rise in and around Nashville, and with mortgage rates starting to creep back up, those looking to sell are running into an interesting problem. Once they sell, where do they go?!
For most people looking to sell, they want to be able to upgrade with their next property. However, if all home prices are going up, even the profits from your current sale may not be able to get you into anything better, or even different, then what you're leaving. This results in those same sellers getting trigger shy about listing and end up holding off until they find something better that they'll be able to afford. The flip side to this is that now you have less homes going on the market because everyone is feeling this pinch, so now competition gets even fiercer. It's a vicious cycle that has a lot of people feeling sick about the real estate market right now. That's why it is crucial right now to work with a real estate professional with a team of resources capable of getting you to the closing table. If you'd like to set up a consultation, where I can go over strategies for both buyers and sellers, I'd love to chat!
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