The market has been changing lately. As a REALTOR it is my job for me to keep you all in the loop.
New construction prices are on the rise. This is mainly because the cost of lumber is increasing due to a shortage. This also means that a builder will more than likely not give you a free fence. Besides the lumber shortage being a problem, many cabinets and appliances are on backorder. All this means that the home of your dreams may take upward of 6 months to build. If your goal is to have a home built in 2021 you need to start now!
New construction homes are not the only homes that are seeing a rise in prices. Pre-existing homes are increasing as well. The Clarksville market moves quickly and a house that is priced $250k – 300k will last mere hours on the market and sometimes end up in multiple offer situations. Make sure you know what you want and act quickly.
With the house market changing into a sellers market, buyers have been offering to pay their own closing costs! This was unheard prior to 2020. With multiple offer situations, buyers need to do things to make their offer more appealing. Some even go so far as to waive their inspection rights. Others have an inspection but will not ask for repairs.
Make sure you have your pre-approval ready and cash in the bank to pay closing costs. The more ready you are to make an offer, the better off you are. This is a New Day, in a New Market.