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    Q: What’s the Latest From Our Market?

    Here’s what’s been happening in our market from June 16 through 23.

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    I’m back with your weekly real estate market update amid this coronavirus environment. I want to keep you well-informed so you can make the best decisions. 

    In the last week, we had 214 new listings hit the market, 210 homes went under contract, 133 homes closed, and we currently have just over 1,300 available in the CSRA. Interest rates remain especially low at 2.75% to 3.5%, depending on the type of loan and your credit score. We have limited inventory, but a ton of buyer activity in the market. 

    We currently have additional activity going on due to Cyber Command and contractors at Fort Gordon. We have buyers looking in every price range, so it’s a wonderful time to sell your home and get top dollar. Also, you can have limited showings due to COVID-19 and still secure a contract.

     

    We have limited inventory, but a ton of buyer activity in the market.

     

    Buyers: It’s a different time in our market now; inventory is low but buyer demand is high. It’s more difficult to find a great deal these days, but with all-time low interest rates, that may be far more impactful financially than being able to negotiate a price down a few thousand dollars. Don’t get caught up on the price; focus on getting the very best interest rate and lowest closing costs possible. Ask your agent for a couple of recommendations for lenders; don’t just go to the same bank you’ve always used, make sure to shop around for the best deal. 

    If you’re considering buying or selling or are unsure how to handle buying and selling at the same time, give me a call or send an email. I’d be happy to help you.

     

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