Contrary to popular opinion, the holidays are a great time to buy a home. Why? This time period presents five distinct advantages:
1. There’s less market activity. In the fourth quarter, there aren’t as many motivated buyers that are out in the marketplace for you to compete with.
2. Sellers are typically more motivated. A seller that’s putting their home up for sale in the fourth quarter and allowing showings during the holiday season means business in terms of getting that property sold. A market of both motivated buyers and sellers can put deals together quickly.
3. Tax advantages. There are tax benefits to both buying and selling, which means not only can you as a buyer take advantage of some write-offs, but the seller will once again be more motivated to close the deal quickly.
4. Interest rates are at historic lows. Money is cheap right now, but that isn’t going to last forever. If you wait until after the holidays are over, interest rates may rise.
5. Home sales are closing fast. With less competition and a lesser volume of transactions in the marketplace, the lender, escrow company, and title company can accommodate a fast closing.
If you have any questions about what’s going on in the market, please feel free to give me a call or send me an email. I’m happy to help!