Putnam County Real Estate Report for Week 3 January 2011

January is traditionally a slow month for real estate here in the Upper Cumberland.  This week proved to be no exception, as the following numbers will show.

*This week (January 15th-22nd) there were a total of 539 homes for sale in Putnam county TN. This includes single family homes that are site built, as well as homes with acreage, mobile homes, and manufactured homes.

*There were 10 homes that went under contract this week. 

*There 16 homes that actually sold. 

*Unfortunately 14 homes expired without selling.

What does this mean for people trying to sell their homes in Putnam county TN?  It means the competition is fierce.  It means that your home needs to look great and have a great price if you hope to be one of the lucky people who finds a buyer and makes it to the closing table.  If you want to sell, you need to look at every home you are in competition with and ask if your home is the best value. If it isn't, you'll need to reduce your price so that your home is the best value in your price category.  Make no mistake; buyers have their choice of homes right now and they are shopping hard for the best buy. When I say best buy, I don't just mean price. It means they want the nicest home for the best price possible. Curb appeal and price are more important that ever right now!

What does this mean for buyers looking to purchase a home in Putnam county TN?  It means that it's a fantastic time to buy.  You have a lot to choose from, and not many other buyers to compete with. (Foreclosed properties are the exception to that statement, as many of them still get multiple offers the first week).  The interest rates are still very low, and that translates to a lower mortgage payment.