Current data suggests winter actually is the best time to be a home buyer, Here’s Why:
1. You’ll pay less!
Even though the market in general is still a “sellers market”, during the winter months it tends to favor the buyer more. Many buyers pause their home search during the winter either because they’re too busy with the hollidays or simple don’t want to look at homes in the frigid winter weather. With these buyers out of your way you’re less likely to find yourself in a multiple offer over asking price situation, and may save thousands by avoiding it.
2. Better Interest Rates!
They are predicting the market and property values will continue to rise in 2015, Interest rates will likely do the same. As the market begins to rebound from the winter slow down in the spring, interest rates will probably go up as well. Many people thing a 1/4 percentage point isn’t really a big deal, but when you look at the big picture that 1/4 percent will cost you. You would be sinking an extra $5000 into a $100,000 house. That’s not including the extra closing costs you will pay for pre-paid interest.
3. Less Competition!
Since many buyers do hault their home search during the winter months, if you decide to break from the norm you’ll have a leg up against them. Sellers wont have their “pick of the litter” when it comes to home buyers, giving you a better advantage and a better chance at an accepted offer. You have more negotiating power when the seller has less options.
4. Motivated Sellers!
Because the marke tends to slow down in the winter, many sellers also hold off on listing their homes unless they absolutely have to. That being send, the homes on the market tend to be sellers that have urgency to sell. Either their being relocated or possible going through a divorce, they have a genuine motivation to sell, and may be more negotiable when it comes to pricing.
5. Quicker Closings
Since the mortgage and title companies tent to be less busy in the winter too, you’ll be able to take advantage of a quicker and likely smoother closing, which will put keys in your hand sooner than expected! You may even get a better deal on closing costs! Because there’s less buyers in the winter, loan offices may be more likely to fight for your business because they too are slow. Which means even more savings for you!
So Lets get you moved! If I’m already sending you properties, take a look at your list and lets make a time to go out shopping. If I’m not, lets get you set up on a search. Click Here
to send me your criteria and I’ll get you set up with an MLS search.