Home Buying in San Francisco>Question Details

Alison Hillm…, Other/Just Looking in San Francisco, CA

Is it better to buy a house at the end or beginning of a year?

Asked by Alison Hillman, San Francisco, CA Mon Mar 18, 2013

Does it matter?

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This decision depends on your tax situation mainly. If you need to have more write offs it will make sense. But putting off a purchase now when prices are low and interest rates are low and banks are stingy with savings interest payments ...should make the thought process easy.
This is why so much money all cash purchases are occurring frequently.
Best of luck.
Tim Rohan
0 votes Thank Flag Link Mon Mar 18, 2013
In today's market if you can even find a home for sale you best jump on it.
0 votes Thank Flag Link Mon Mar 18, 2013
It used to be that it was best to buy from Thanksgiving until February because less people were looking and more motivated sellers. But from what I have seen it hasn't mattered the past few years. The competition is fierce no matter what time of year.
0 votes Thank Flag Link Mon Mar 18, 2013
Some tax advisors tell their clients they need a tax deduction and suggest buying a home. Obviously to get the full benefit or write offs in any given year you've got to own the property all or most of the year. Other than that, there's never been a time I suggest that a client waits. When they are ready to buy, we start looking.
0 votes Thank Flag Link Mon Mar 18, 2013
Whenever you find the right house that fits your needs and you feel good about the purchase and the price.

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0 votes Thank Flag Link Mon Mar 18, 2013
If you are a buyer, I believe it is better at the end of the year. If you look at the last few years in San Francisco, people who bought in the fall did better than people who waited until February or March of the following year.

In the Spring, new buyers are out looking. In the Fall/Winter, buyers and sellers are thinking about the holidays.

Best
Eric Castongia
Web Reference: http://www.SFHotBuy.com
0 votes Thank Flag Link Mon Mar 18, 2013
Better in what sense?

Yes, it can matter if Congress makes any prospective laws that favor a home purchase before or after a certain calendar year.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Mar 18, 2013
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