It is a buyer’s market in the real estate business, but it won’t last forever. A plentiful supply of affordably priced homes, combined with low interest rates, makes it a perfect time to buy a home. And this weekend’s Franklin County Parade of Homes marks a great opportunity to see many of the properties now on the market.
Affordable, of course, doesn’t mean cheap — instead, it means a good value for the investment. That affordability could decrease as we get closer to November, when home inventories deplete and the presidential election’s results begin to impact a number of other factors. The usual spring home shopping season started earlier this year — way back in February — because of milder temperatures. Consequently, homes are moving at a faster pace than most have seen in a long time. Obviously, getting and keeping homes occupied is good for neighborhoods and the community as a whole.
This weekend, potential home buyers can see 22 homes around the county from the area’s leading real estate companies during the Spring 2012 Parade of Homes. The home inventory continues to decline, with about 24 fewer homes available than there were just two years ago. It is a cyclical business that promises to move from a buyer’s market to a seller’s market in due time. We don’t have to look much further than the coming completion of the U.S. 59 freeway and the intermodal rail hub project near Gardner and Edgerton to realize a positive change — depending on whether you are a buyer or a seller — in the market is coming. The costs of building a home might be prohibitive for many people, so buying an existing home could make more sense.
The homes on the parade route range in price from $69,900 to $255,000, but they represent just a fraction of the locally available homes. Even if people aren’t ready to fully jump into the housing search, these events are a good opportunity to visit with a real estate professional. Talk about the process of listing your home for sale in preparation to move up to a bigger home or downsize to a more appropriately sized home. See an ad in The Herald for details on the homes or an online map at www.ottawaherald.com — just click on classifieds, then top homes.
Potential absolutely awaits those who want to have a home of their own. Visit the Parade of Homes and see for yourself.
— Jeanny Sharp,
editor and publisher