I closed on my first house on a predictably cold, yet picturesque winter day in December of 2008. For some reason, I had made it a goal to ring in 2009 in my first home. I had a few family members tell me to wait for spring to make the big move, but once the holiday season started getting closer the urge to have my own place to decorate just grew larger. Working for a mortgage company at the time, I also learned that buying during the holidays would have some perks to it.
If you have been on the fence about buying a home, or getting pre-approved, here are 3 top reasons why now is a great time to get started:
1. Homes are priced to sell. Any seller actively looking to sell their home from the months of October through December are serious about unloading their property. It may even be out of necessity or lifestyle change. Homes priced to sell means good things for buyers when it comes to putting in an offer the seller finds attractive and coming out on top during the inevitable negotiation process.
2. Less competition on the market. We are recently coming off a highly competitive buyer's market, where the hopes of an offer being accepted were often times dashed by a higher bidder. There aren't as many buyers during these holiday months, which gives you an edge on making an offer on your dream home without getting into a bidding war (which would in turn increase the amount you purchase the house for).
3. Interest rates are still historically low. I know, I know - today's rates aren't hovering in the 3% range anymore. Today's rates are STILL attractive and affordable (my rate was a cool 6.75% back in December of 2008). Take advantage of today's rates before they creep up. Market experts have already predicted a rise in the first quarter of 2019.
I've moved into a new house since then (ironically purchasing my second one in the month of December as well). Even though moving day 2008 was F-R-E-E-Z-I-N-G, the feeling of celebrating Christmas in my own little home that I worked so hard to own still gives me plenty of warmth.
Let us know how we can help you get started today!
by: Jamie England