Generally speaking, more homes are usually on the market in spring and summer. However, any time is a good time to buy! If you are motivated and have your financing in order, buying a home during the winter, spring, summer, or fall will not make a difference.

Use an agent to help you negotiate the best deal for you and to walk you through the home buying process. If you buy before November 30, 2009 and you are a first-time home buyer, you'll be eligible for the FIRST TIME HOME BUYER TAX CREDIT.

Interest rates are also very low right now. It's hard to predict the future, but rates may not stay as low as they are now in the near future.

Have fun home shopping!

Hi Mel,
There is no better time of the year to buy than other times of the year. I do think that there are more homes on the market between March and September so you have a better selection. If you are a first time homebuyer and want to receive the $8,000 tax credit you must buy before December 1st.

Hope that helps:)
Crystal Kilpatrick
Homes ATX, Realtor since 2000

You are right on track with thinking about timing! Regardless of the economy, there are cycles real estate goes through: March thru July peak season with the lion's share of contracts written in April and May - more homes to choose from,since there are more homes on the market during that period than any other, but also more competition with Buyers, therefore deals may not be quite as sweet. Mid-August to Mid-September you can hear the locusts - fewer homes on the market, Buyers have generally settled into a home in preparation for the school year, Sellers are in a stress mode to get their homes sold, Buyers have less to choose from, but the deals may be better. Picks up in October for contracts to close around Thanksgiving so Buyers can make a move over the holidays - true for November with a December holiday close and move date. January tends to be quiet in the market with a slight increase in sales in February.

Factored into all these timelines is the interest rate. Just as another agent has stated, interest rates are at HISTORIC LOWS! What you may think is a terrific deal may be compromised by a higher interest rate if the rates start to rise. Interest rates have been hovering just below and just above 5%.

Most first home buyers want a nice home, but also are looking for a DEAL. Good strategy because statistically you may not stay in your first home for more than 5 years. So, if you want a DEAL, purchase during the time of year when Sellers are stressed the most about getting their house sold and take advantage of the low interest rates as quickly as possible before they begin to rise. As the economy improves, rates will go up. So I suggest you look now for your home - get the best rate and deal.

Another consideration is the home itself: Is it in a good location (need to consider this for possible resale later)? Is it energy efficient?(use a certified EcoBroker to assist you - you don't want to be hit with high utility bills) Will the construction hold up for MANY years? What repairs may be needed? How much are the Homeowner's Assn dues?

Game plan: 1. Contract with a real estate agent who is a Certified Negotiation Expert to help you find and negotiate the best DEAL; 2. Speak with 3 lenders (have a list of questions to fairly compare each and match the loan to your purchase situation), and find out what you qualify for. When writing an offer you will need a pre-approval letter to show your financial strength as a Buyer; 3. With the assitance of the realtor, target the BEST properties for you.

Also, even though you are renting, deals have been negotiated in such a way that the remainder of your lease agreement could possibly be satisfied and you can then be released in order to capitalize on a purchase opportunity.

Hope this helps!

Donna Ciccarelli
GRI, ABR, CPS, CNE, EcoBroker

512-259-9154 Home office, after 6:30 pm family time (thanks!)
512-736-3124 Cell, after 6:30 pm family time (thanks!) http://www.donnaciccarelli.com

Goldwasser Real Estate
500 N. Capital of Texas Hwy.
Bldg. 5, Ste. 100
Austin, TX 78746
Office: (512) 420-0300 • Fax: (800) 948-4045

More inventory to look at in Spring and Summer (however also many motivated Buyers looking). So, spring and Summer usually favor the Seller regarding price negotiations. Less inventory in Fall and Winter to look at (however sellers listing in Fall and Winter are usually more motivated type sellers - or they would have sold during the Spring and Summer). Fall and Winter typically favor the Buyer in price negotiations. This is of course general statement and won't apply to every situation.

Mel,

The very best way for me to answer this question is to refer you to our article that shows the facts of available homes for sale, number of transactions, and other valuable statistics and my narratives about them.

In addition, everyone keeps talking about this being the "best" time to buy, but nobody really knows what the heck that means. Basically, in history, never have interest rates AND prices both been very low AT THE SAME TIME. What this means to you is that you can purchase a house at very low prices (which will keep your mortgage payment lower than any other time) AND you will get a historically low interest rate (which will lower your payment even further). This is the 'perfect storm' for buyers who are qualified to purchase a home and take advantage of the situation that we call the marketplace.

Please take a look at the statistics here: http://glt.bz/stats and let me know what questions you may have.

Garry

Hi Mel,

Typically, there are more listings available from late spring through late summer. However, don't discount any other time of year. In this market, there's really not a bad time to buy.

When you say you're all set to purchase, does that mean you've been pre-approved by a lender? If so, great, you're going about a home purchase in the right order.

Please let me know if I can be of any help. The areas you mentioned are some of the areas I specialize in and my office is in 78736.

Thanks,

Kathleen Bauerle Vernon
Third Generation Austin Realtor
512-567-9909
Exit SW Jackson Properties