It’s no secret to anyone searching for a home or watching the local real estate markets in Western North Carolina and Upstate South Carolina that inventory of existing homes for sale and new construction by home builders is limited. Locally, real estate agents and builders are reporting record sales and reduced inventory. Compared to this time last year, in many areas inventory is down as much as 50%, with sales volume and sales prices up more than 10%. Low inventory combined with higher sales means it’s more challenging than ever before to find exactly what you’re looking for in a home.
Mortgage rates, while gradually climbing, remain at all-time lows and many reports show the Federal Reserve intends to keep them relatively low for quite some time. Rates are low, jobs are returning, and health measures to mitigate the pandemic are succeeding. Many buyers are in the market for new homes and finding it very challenging to find exactly what they are seeking. Perhaps it’s time to consider building a custom home.
Many Morgan-Keefe custom homes are built for homeowners who dreamed and planned for years of their custom home. However, many Morgan-Keefe homeowners find that building a custom home is the option they never knew existed when they began the search for their next home. Whether downsizing, right-sizing, or simply seeking a better fit for the current needs of your family, a Morgan-Keefe custom home guarantees you’ll get exactly what you’re looking for in a home.
Searching for a home in a limited inventory market often entails touring a home the first day it comes on the market and making rapid buying decisions, often involving multiple offers on one home, driving purchase prices higher than asking price. When you purchase a resale home, you’re weighing trade-offs and accepting features and lack of features that may have been dealbreakers when you began your home search. However, when you build a custom home, you’re employing a team of artisans and custom-home building experts dedicated to crafting the exact home you’ve dreamed of, within the scope of your budget and selected home site.
Searching for your next home in a limited inventory market that favors sellers could be the perfect time to consider building a Morgan-Keefe work of art. Instead of diving into the unpredictable, and often over-priced reality of the current real estate market, begin the process of designing your Morgan-Keefe custom home. Contact us today and win as a buyer in a seller’s market.