This is an article from the Washington Post, By Jon CoileJon Coile, chairman of Rockville-based multiple-listing service MRIS, writes occasional commentary on the Washington area housing market’
4 Reasons To Buy A Home During The Holidays
Less competitionLet’s start with the obvious one: less competition. This lowers the chances of multiple offers and bidding wars (something we saw a lot of last spring/summer), and should translate into a bigger discount for you. Know your market!
Serious home sellersWhy would sellers pick such an inconvenient time — while everyone is busy entertaining family and friends and enjoying the spirit of the holidays — to list their properties? Probably because they need to sell and may feel compelled to do so before the end of the year for tax purposes. What this means for you: less hassle when it comes to negotiating; a greater willingness, on the part of the seller, to agree to concessions; less chance of the seller waffling; and greater respect for your offer, even if it’s a little lower than the seller was perhaps expecting.
Faster mortgage approvalLenders aren’t as busy this time of year, and less volume could mean faster approval. Some lenders might even be willing to reduce fees during the off-peak season in hopes of gaining your business. Regardless, don’t just go with the first lender who comes along. It pays to shop around. A good Realtor has excellent relationships with lenders that can get you the best rate.
Greater affordabilitySure, home prices have been rising, but they’re typically lower in December than during any other month (so you don’t have to be as aggressive with your initial first offer, compared with buying during peak to high season). Zillow’s third quarter Real Estate Market Reports showed home value appreciation slowing. As we enter the slower home shopping season many overheated markets are moving away from bubble brink and ultimately becoming more affordable than they have been historically. If you want to take advantage of low interest rates, the time to act is now.
Chris Grenko epitomizes integrity, dedication and creativity in every detail of your Real Estate transaction. Chris grew up Chicago and began his sales habit at the age of 11 selling the local newspa....