Just as 2013 was a big year for the West Knoxville real estate market, 2014 should be a big year as well, if not better. If you didn’t take advantage of historic interest rates and home prices in 2013, this year is a great opportunity to buy a West Knoxville home for sale. Still not convinced? Read on to see why 2014 is the year to buy a West Knoxville home for sale.
Despite what you may have heard about mortgage interest rates rising, it is important to keep what you’re hearing in perspective. While mortgage rates aren’t where they were a few years ago, mortgage rates are still historically low in comparison to years past, where the historic average interest rate was 10%. Mortgage rates are expected to rise some this year, however, the slow increases should not make a huge difference in buying a West Knoxville home for sale. They are still low enough that buying a West Knoxville home for sale makes more sense than renting. It is still extremely affordable to buy a West Knoxville home for sale.
In addition, just as you may have felt you should have bought a home in 2013, there are many people who feel the same way about selling. In 2013, there were some complaints about a lack of housing inventory in the Knoxville market, that is not expected to be the case this year. Just as you may have waiting to buy a West Knoxville home for sale, there were many who held off on selling their home. This year is expected to be the year that many people put their West Knoxville home on the market, making this year an even better year to buy a West Knoxville home.
Finally, the Knoxville real estate market does not see the high peaks and valleys that some other national markets see, so home prices don’t necessarily rise at such rapid speeds. This means that 2014 is still just as great of a year to buy a West Knoxville home for sale.
Buying a West Knoxville home for sale is much more than just what the market is doing. It’s much more important to be in a place where you are ready to buy and it makes sense to buy. If there is anyway Knoxville Home Team can assist you, please let us know, you can give Rick at call at 865-696-9002 or send an email to [email protected]. Kati can be contacted at 865-392-5880 or via email at [email protected]. Also, be sure to check out our West Knoxville Home Search Page to see what homes are for sale in the West Knoxville area.