Is it still a buyer’s market today in Lagrange? As experts in the Lagrange real estate market, we get asked this question a lot.
The answer isn’t as simple as yes or no. Hint: We think despite the increased interest rates, it’s still a pretty good time to sell a house in todays market.
The State of the Market for Buyers in Lagrange GA
First off, it really depends on the property type and location.
Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns. Inventory is currently relatively low due to folks not wanting to sell their homes with 3% interest rates & move to another home with a 7% rate.
Buyers are often looking for the same thing – Desirable neighborhoods with good schools, transportation, shopping, and proximity to work are hot commodities. Properties that offer all of these features put sellers in control of the market.
But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Lagrange, but seem to be rebounding as the rental market increases.
Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Smyrna market in unique ways.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not particularly odd for buyers who had been previously approved, to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Sound confusing? It is. But We Can Help.
There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once. Who can actually predict what’s going to happen in the short term?
We’re investing in Lagrange because we believe in the community and the people here.
If you need to sell a property near Lagrange, we can help you.
We buy properties like yours from people who need to sell fast. We love solving people’s problems & buying homes that need a lot of work or where there is a unique situation in play that makes the home particularly difficult to sell. Please let us help you!
Joke of The Day:
Most people are shocked when they find out how bad I am as an electrician.