Have you been thinking about downsizing, upsizing, or buying a house at the lake? Wondering if this is a good or bad time to sell? We have some timely information to help with your decision-making. The short answer is that in this strong seller’s market, it’s a great time to sell in every price range, but homes around Birmingham in the $400-800k range will benefit more from not further delaying sale – and those above that range will benefit even more.

As gas prices, the economy, and interest rates stagger from the blows of several forces, more and more buyers are expected to lower their home-buying sights. Those who’ve had their hearts set on homes in the $600-700k range may be starting to think they would be fine in a $400-500k home as they face greater income and expense uncertainty. We’ve already been seeing this in higher-end homes the last month or so as upscale homes are receiving lower offers and homes sitting on the market that would have been snatched up the first week a few months ago.

Although some think there’s a housing bubble about to burst, most experts don’t think anything like the recession that began around 2006-2008 is going to happen again, partly because so much regulation on home loan qualification came out of that time.  Many “experts,” however, do think the market is headed for some correction as the competition and overbidding on homes of recent years has pushed home values up to inflated levels. That’s what makes this such a good time to sell higher-end homes before much correction happens. All of this is speculation, of course. The housing shortage across the country is the dark horse that makes it hard to know if there will be a correction and if so, how much. People still always need a home to live in – and rent prices are even higher, so who wants to be throwing that away every month!

Whatever your home and financial goals, call us and let’s have a conversation about where you’re heading and when.