Home Buying in Houston>Question Details

Najee and Rae…, Renter in Houston, TX

Best time of year to buy a house?

Asked by Najee and Rae Walker, Houston, TX Wed May 1, 2013

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Agree with the monkey below, but, really, best time to buy a house is when YOU are financially ready. That is, if you have debts, clear it. If you have low scores, make it higher by controlling income/debt ratio. Best is debt free. Further, save up for your down payment. Ideally, 20% though you don't have to have it. 10% will do. Last but not least, get the pre-approved letter from a lender. With these in hands, you are in much stronger position to purchase a home.
1 vote Thank Flag Link Wed May 1, 2013
In the spring/summer when school is ending, there is more inventory but also more competition so you may have to pay more to get what you want. You can sometimes get better deals between Thanksgiving and Christmas, but those are usually homes that didn't sell in the fall. Generally speaking, it doesn't really matter. Buy when you need to move.

Be sure to hire an Exclusive Buyer Agent. go to http://www.naeba.org for a referral in your area.
1 vote Thank Flag Link Wed May 1, 2013
According to data from the National Association of REALTORS®, the months between April and July are when the most house sales take place. Many homeowners choose this time of year to sell their homes as it is vacation time and there is nicer weather, hence leading to larger inventory of homes on the market. Where weather is concerned, buyers and sellers are often reluctant to uproot themselves while their children are in school and when weather conditions make moving difficult. Given the number of houses on the market during spring, it can be an optimal time for house hunting, as your chances of finding a home that meets your needs are increased. The rule of thumb to buying a house which outweighs all other suggestions is the same across the nation and applies for any buyer: When you find the right house that suits your needs and wants, when you feel comfortable financially and when you can see yourself living in the house that you just found - that is the right time to buy that house.
0 votes Thank Flag Link Thu May 9, 2013
There really is not a best time of year to buy a house. Depending on what city you are buying in there could be certain times of year where there is more inventory. Take for instance Florida. Florida can be really seasonal so if you are buying a condo on the ocean the best time of year to buy that condo maybe in May or June because all of the seasonal people have left and you have a better chance to get a better deal. Where the single family homes are typically bought in the February-July months so the best time of year to buy a single family home in South Florida tends to be October November. Good luck with your purchase and if you ever have any questions please feel free to contact me.
0 votes Thank Flag Link Thu May 9, 2013
Best answer - - when you feel ready and comfortable AND excited! Buying a house should be one of the most exciting times of your life. It really does not have to be stressful. Find the right agent and loan officer and they will make it fun and smooth for you. Sellers ALWAYS want to most they can get for a home and Buyers ALWAYS want to buy at the best price they can. The market dictates what the right price for a property is and there is rarely a large change within a year.

Arnold Richie, Realtor®
Terry Burnaman Realtors
http://www.yournewhomehouston.com
arnold@yournewhomehouston.com
713-396-2017
0 votes Thank Flag Link Thu May 2, 2013
Najee and Rae,

Anytime is a good time if your ready. The markets are generally heating up and favoring the sellers at this point (Spring, 2013 Houston), but there are still some great opportunities. Interest rates are still low so more affordability, but not as many homes for sale...so more buyers going after fewer homes causing prices to go up.

There are advantages/disadvantages depending on the time of the year. Spring/Summer is typically when we will see the most number of homes coming on the market. However, there are more buyers in the market looking and trying to time their move with school summer breaks.

Fall/Winter months are typically slower in the number of buyers looking, so less competition. But there are also fewer homes on the market as many sellers have sold and others have pulled their homes off the market for the holidays. If the sellers stay on the market during those slower months, they typically will be more willing to negotiate with buyers.

Get with a seasoned agent and they can guide you through the process as well as the "timing" issue. Getting pre-qualified for a mortgage is your #1 concern at this point. Let us know if we can assist you.

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
0 votes Thank Flag Link Wed May 1, 2013
Najee,

Forget about interest rates, the time and season of year. The best time is when you are ready. Do not let outside or market factors that you cannot control influence your decision. Of course, make sure that you are financially able and if so pull the triger. Call us, Home Dunn Right at 832-541-7466 and we will guide you through the process.
0 votes Thank Flag Link Wed May 1, 2013
When a buyer is need of one and qualified.
0 votes Thank Flag Link Wed May 1, 2013
Najee and Rae ...

Interest rates have been low for quite some time ... but this is now the traditional "selling season," when more homes generally come on the market. You'll have more to choose from, especially since inventory has been depleted for several months. A word of caution, however ... be prepared to act as soon as you find the home you want. Carolyn is absolutely correct about having your down payment and pre-approval in place. We're now in a sellers' market, so prices won't be as low as they've been ... but for every additional $1000 on your loan, you'll likely be paying under $5 more per month. If you're ready to begin the process, I'd love to work with you. Please get in touch, so we can begin.

Regards ...

Al Geffon
(713) 213-6350
al@geffon.net
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Wed May 1, 2013
Right now is always a popular time of the year to buy and sell... The Market is flooded with pretty good deals depending on where and what you need. Let me know if I can help or if you have any questions. Im currently working with a few Trulia Clients and wold love to help you out!

http://www.HouseHuntingHouston.com

Thanks,

Kevin Sechelski
Realtor
832.545.5503
Contact@HouseHuntingHouston.com
0 votes Thank Flag Link Wed May 1, 2013
I definitely have to agree! The time is now. Interest rates are at an all time low.
0 votes Thank Flag Link Wed May 1, 2013
If you are buying in Houston, I would get my Money, Pre-approval, and all my Finacials together and start shopping NOW ! Prices are slowing creeping up again, and interest rates have never been lower.
0 votes Thank Flag Link Wed May 1, 2013
There is no better time than now! Interest rates are still LOW! Let me know if there is anything I can do to help! Talk to you soon...V
0 votes Thank Flag Link Wed May 1, 2013
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