Time to consider investments
We are beginning the final two months of the year. As many Realtors will confirm, we are headed into a slow part of the year. With important holidays occurring in November and December, our focus tends to move towards staying put until the weather warms up. The result is that for many, the task of selling a home is placed on the back burner.
However, investors should take careful attention of this trend. What it means is that often, the same house that was priced at (for instance) $200,000 in September, when the flowers were still blooming and the trees were fully leafed out, might be snagged for $180,000 in late December or January. (Oh, and by the way, that same house may be re-advertised in March — when the flowers start blooming again — for $205,000). Investors should also note that there may be tax advantages for completing a purchase in 2013. Finally, investors should also be fully aware that mortgage rates are still low, low, low.
If you’re in this investor camp and you can offer cash for a home or condo, you are in luck. Today is November 1, but there’s still time to get everything completed before year’s end with a cash deal. In fact, if you are a 100% cash buyer, you have nearly a month to go before the sand is out of the Purchase Complete in 2013 hourglass. Here’s a great game plan: purchase now, use January and the first couple of weeks in February to get that home upgraded with new lighting or new bathroom fixtures as needed, and then put it on the market in mid-February — completely new, sparkling, and ready for new renters (or owners) by the first of March 2014.
Finally, the best news is that there are some excellent homes and condos on the market right now. There are several in the greater Clarksville area that are simply begging for a new owner, and greater Nashville — especially around the burgeoning Charlotte Pike area — still has a number of good selections.
Give either Becky or me a call if this is the right time for you to invest. Becky’s cell is 615 948 8218, and my cell is 615 870 4094. As you know, we are with Parks in Green Hills (whose phone number is 615 383 6600). Thank you!