The best time is now as interest rates are lower now than they will be anytime in the near future as you will see them rise soon. There are less homes for sale in winter than spring but sellers are ready to sell and if you are ready to buy, you can make a good deal
Joseph, many believe winter is a good time to buy because sellers are motivated to sell and more willing to negotiate. Thatâ€™s according to a survey of more than 1,300 visitors to realtor.com conducted from Nov. 7-16, which found 45 percent of buyers in the market said thereâ€™s not enough inventory in their price range.
Mortgage Broker Or Lender, Louisville, KY
Fri Nov 22, 2013
Why not wait until the interest rates go up on 1/13/14 at 11am? There will be a lot fewer qualified buyers at 11:01 than at 10am. The rest of the Dodd Frank Act goes live the preceding Friday so my crystal ball says if rates havenâ€™t gone up by then, they will by the next rate sheet on the following work day. Current rates are almost 5 FULL POINTS below the 40 year average prior to the meltdown. So, if rates snap back to the norm the pool of buyers that are qualified shrinks. So if you are paying cash wait, if you are borrowing some of the purchase price you better hurry.
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
If you need a home that is the time of year that is best for you. People still have to relocate due to jobs, marriages, divorces, children, and a whole host of other reasons. If your house isnâ€™t available on the market for them to review and consider, you could be missing out on opportunities. People who are searching for a new home during the holidays tend to be highly motivated.
It is a good time when you are ready to BUY!
Until then, do drive bys and watch virutal tours.
End of year buyers and seller are SERIOUS!
If you are wanting to 'see' and not ready to BUY, skip the seasonal hassle and wait for Spring.
You will be in the company of others emerging from their home quest hibernation.
Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
Move to the Front of the Line
I assume you are considering purchasing a property. If that's the case, it really depends upon your need for housing. Traditionally, there are more buyers after the first of the year than at the end of the year so there may be more competition.
Joseph - there are no indicators pointing to the national upswing in housing prices slowing down anytime soon. Whatever type of home you are interested in, most likely it will be more expensive int he spring.
That being said, if you have personal reasons to hold off on making a purchase, like having a bunch of stuff going on during the holidays which prevents you from dedicating the type of time needed in order to make a wise buying decision, then it might make better sense to hold off until after the 1st of the year. I don't see why one would wait until the spring thaw though.