Every day when I look at Murfreesboro TN homes for sale and the real estate market in the Middle Tennessee area, I am blown away by the incredible bargains that are available to buyers. I have advised my friends and family that if they are considering buying their first home, or are moving up in home value, NOW is the time to buy...at least in my opinion. Housing prices are at bargain basement prices and the interest rates are at all time lows. It would seem that we have the perfect storm for home buyers.
Sunday, on CNNs State of the Nation, Shaun Donovan, Secretary to the U.S. Department of Housing and Urban Development agreed with me. Well, he didn't actually say I agree with Sherri Wellborn that NOW is the time to buy a new home in Murfreesboro TN, BUT he came pretty close. He stated that the market was showing signs of recovery and was more affordable than it had been in generations. The foreclosure rate was on the decline and home sales have incresed six of the last nine months. While he confirmed that the housing market was in the worst crisis since the Great Depression, it was his belief that it was unlikely it would decline further. Some believe that the market will start to improve and show rising home prices by the end of summer of even fall.
I wish that I had a crystal ball and would know the exact day that the market would turn around, or home prices hit their absolute lowest. Unfortunately, there is no way to know when that day will be. But, I do know that homes in Murfreesboro TN, and all around the Nashville TN area appear to be good long term investments. The rent rates are continuing to rise with no end in sight. If you want to capitalize on the down market and lock in your monthly housing expense, then I suggest you purchase a home. Owning a home is still the American Dream. And like the Secretary to HUD stated, it is more affordable now than it has been in generations!
If you are searching for a new home, or would like to discuss real estate in Murfreesboro TN, or the Nashville market, I'd love to hear from you!