Real estate expert discusses boom in area home sales
NASHVILLE, TN (WSMV) -
More and more "For Sale" signs are appearing in front of area homes, and one local real estate expert says that is one sign that the housing market is making a comeback.
Kendra Cooke, president of the Greater Nashville Association of Realtors, says while Spring fever may have people eager to sell, Nashville's economy is stabilizing.
"We just have a lot of boom going on right now," she said. "A lot of job market stuff going on right now with the convention center, growth at the Nissan plant."
Cooke adds that now may be the most affordable time to buy.
"The rates being where they are, and you get a fixed rate, around 4 percent right now, give or take a little bit. I mean, for the next 30 years, once the economy starts booming again, we're not gonna see those rates for a very, very long time, if ever," Cooke said.
So, if you are considering buying or selling right now, Cooke says there are a few things you should do immediately.
Number one, she says line up a realtor and a lender.
"You want to get your pre-approval process done. That's like having cash in hand to the buyer," she said.
Next, make a wish list of your needs and wants.
"Does it need to be close to church, close to work? Do you want to be close to a greenway? What are your daily activities for your family," Cooke said.
Right now, homes for sale in the Greater Nashville area are on the market about 90 days before they're sold.
That number had been greater than 100 previously, which Cooke says is another sign that the local market is rebounding.
And, if you are thinking about buying or selling, keep these dates in mind: April 21, 22, 28 and 29.