5 Reasons NOW is a Good Time To Buy

fall homesAs the leaves fall, the fast paced market may slow to a normal pace and be a great opportunity for you to buy a home.

If you’re in the market for a home, now may be good time.

AND HERE’S WHY………

Inventory that hasn’t sold presents a buying opportunity

The first thing you need to ask your agent is how long the home has been on the market and what is the pricing history. Sellers who may have overpriced their homes to test the market are now reducing prices to “get in” the market – maybe the home hasn’t sold because buyers felt it was overpriced.  Because sellers have now had time on the market, they tend to be more motivated.  Occasionally, buyers can find homes that are in fact below the true market value.

In addition, showings along with the holiday parties and celebrations represent an added disruption to sellers.  Many times we see sellers who “just want to be done with it” and are ready to get the home sold.

Sellers can be more motivated

Sellers think about taxes as the end of the year approaches, and savvy sellers always see their home – in the end – as an investment, not just a beautiful place to call home.  So as they’re thinking about gains, losses, moving up or down, closing on a new home themselves before the end of the year, it will be your opportunity to get the home of your dreams.  Your agent can help you determine the reason the seller is selling – there may even be incentives to get it completed before year end.

Less competition

Most families who were concerned with the start of the school year, are already settled into their new digs.  Their exit means less competition for YOU!  The households with families represents a huge segment of the market.  Taking out an entire segment of buyers gives millennials, first time buyers, mover-uppers, singles, down-sizers and baby boomers a chance to get in the market without all the competition.

More opportunities

Fall and winter  tend to be good times to see the home – you just see the home, not a beautiful landscape, flowers, etc.  You can even better inspect for problems, such a drafts and leaky windows and doors.  Don’t get distracted by the lovely fall decor and – down the road – that gorgeous Christmas tree.  But the time of year may also present opportunities for you to make this house your home based on what you see now that you wouldn’t have seen in the summer.

Rates are LOW!

I keep saying it, but buyers getting into the market for the first time have it so good!  30 years ago interest rates were 12.5% ( that means a payment on a $150,000 home would be whopping $1600/mo)  With today’s rates, the payment would be between $670 – $760/mo.  Buyers have the advantage of being able to afford more home than at almost any point in history!

In summary:  Now is a good time for millennials, singles, and baby boomers to get in the market and snatch up a home before the end of the year!  Happy shopping!!  

For more information or an evaluation to determine if the time is right, contact me at 712-541-5118 or email me at marceta@propertyptosgroup.com

 

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