Looking to move-up to a luxury Nashville home? Now is the time!
If you are planning on buying the latest Nashville luxury home you have been dreaming of , today is the best time to do so! Trulia.com recently released data in a report called Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country including right here in Middle TN. This means that homes are often staying on the market longer, or can be found at a discount.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
If you could sell or trade-up your old home that would be a great help for you to sustain a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not everyone who purchases luxury properties has a home to sell first.
In a recent Washington post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
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