Krystal Lorbiecki with The Ashton Real Estate Group has been busy this week working with out of State Renter's in the Vanderbilt and Green Hills area with a $1600/mo budget. Also, she has been finalizing a deal for just under $300k deal in Traceside, closing yesterday 9/9/11.
She will continue to stay busy showing this weekend in Franklin TN with out of state renter's who wish to purchase later in a year.
Renting before you buy seems to have become an option that a lot of buyers are exploring. This can be seen as a way of learning a little more about the choice of areas to live in and also enables the buyer to spend a little more time waiting for the best deal to come on the market.
With the interest rates at historic lows, and the investors and cash buyers really starting to ramp up their purchases, there is a train of thought that waiting to buy to get the best deal may not always be the wisest course of action.
At a recent real estate Mastermind class, one of the speakers Aaron Armstrong from the Armstrong Real Estate Group, had mentioned that for every 1% INCREASE IN THE MORTGAGE RATE THERE IS A 10% REDUCTION IN PURCHASING POWER.
With the interest rates as low as they are it now becomes a gamble as to wether to go ahead and buy now or wait and see if the rates will start to go up and effectively raise the cost of buying a home. This is when the advice of a good realtor can really help as we have access to all the market indicators in terms of days on the market, list price to sales prices trends and other economic variables that then to shed light on the direction of the real estate market in the Nashville area.
The Ashton Real Estate Group of RE/MAX Advantage
The #1 Real Estate Team in Tennessee and #2 RE/MAX team in the World!