We Specialize In These Area Communities

Clarksville - Cunningham - Palmyra - Southside
Woodlawn - Oak Plains - Shiloh - Adams - Sango

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The Latest Clarksville Market Statistics

Today we're here with the latest numbers for the Clarksville real estate market. The market is starting to shift, though. We'll discuss how the shift will affect both buyers and sellers today.

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We are back again to talk about one of our favorite topics: the latest market statistics. We’ve got the latest numbers for the Clarksville market and we think you may be surprised by some of them.

The biggest thing to note is that right now we only have 1,279 properties on the market for sale. That might sound like a lot, but it really isn’t. At this time last year, we had 1,600 to 1,800 homes for sale. As a result, when we head into spring, we’ll have lower inventory at that time. This is just another reason that you should purchase your home now.

Buying now is your best bet.

Here are some more important statistics to take note of:

  • Closed sales are up by 15% over last year, from 2,958 to 3,401
  • The average sales price is up by 13.08% over last year, from $168,600 to $173,800
  • The average days on market has decreased by about 5.4%, from 92 to 87 days

We are slowly shifting toward a seller’s market, so now is the time for buyers to get out there and strike a deal. If you have any questions for us about buying or selling, don’t hesitate to give us a call or send us an email. We look forward to hearing from you!

What Are Your Options After a Low Appraisal?

When you get a low appraisal, the transaction isn’t over. There are a number of ways buyers and sellers can work together to resolve the issue.

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Low appraisals aren’t ideal, but they don’t have to kill a transaction. If you get a low appraisal, we have some tips to share on how you should approach it.

The first option is to cancel the deal outright. This typically doesn’t happen, but it can. A lot of times, the seller will decide to challenge the appraisal by submitting additional comparable properties to the appraiser through their agent in order to justify their price. At that point, it’s up to the appraiser to decide whether to increase the home’s value or not.

Sellers typically take one of two courses of action in our market.

We are in a VA market, so sellers typically take two courses of action when they get a low appraisal. Some will just put the home up for rent, while some will actually end up lowering their price to meet the appraisal. Sometimes, they will negotiate closing costs. There are a lot of different options depending on the type of loan you have.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you!

Why Home Inspections Are So Important

Why are home inspections so important? How do they differ from appraisals? Who pays for it? These are all crucial questions in the home buying process.

Why should you get a home inspection when buying a home in Clarksville? 

This is a question that we get a lot. We also find that people get home inspections and appraisals mixed up. An appraiser may look at a crawlspace for water, for example, but an inspector is actually going to get in the crawl space to thoroughly make sure everything is OK. It's important to understand the difference between the two and what they do.

How do you choose a home inspector? Usually, your Realtor can recommend several, or you can look in the phonebook. You want to make sure they are a member of the National Association of Home Inspectors. 

Who pays for the home inspector? Typically, the buyer pays. It's important for the buyer to be present during the inspection to learn about how to maintain your home and keep it in good shape for resale value.

Make sure they’re a member of the National Association of Home Inspectors.

People also commonly (and mistakenly) think that the inspector is there to point out every little thing wrong with a home. The inspector is really there to look at heating, plumbing, electrical, and structural aspects of the home, like the roof, the doors, the windows, and other things like that. Cosmetic flaws should be addressed in the initial offer before the inspection.

If you have any other questions about home inspections or about the Clarksville market, give us a call or send us an email. We'd be happy to answer them for you!