The old adage is true – there’s no place like home for the holidays! And there’s no better time to find that home than DURING the holidays!
Today we’re going to review some of the top reasons why closing on your new house before the New Year might be a jolly good decision.
1. Sellers are more motivated to sell
Lots of sellers take their homes off the market for the holiday season. They are busy with family events and traveling, they don’t want to worry about keeping a home “show ready,” and they assume holiday festivities and bad weather will prevent buyers from stopping by.
But what about those who remain on the market during November through February? They generally fall into two categories – those who are specifically trying to beat out the competition of the summer housing market and those who are remnants leftover from the previous summer housing market.
Either way, you have motivated sellers who are ready to make a deal.
2. Less competition
While there are less homes on the market in the winter months, there are also less buyers taking time to search for them. This means you don’t necessarily have to rush to put an offer on a property in fear of losing it to another buyer. It also means you might find the sellers more willing to negotiate with you because there aren’t a lot of buyers waiting in the wings.
3. Faster mortgage approval
While it’s true a lot of workers take vacation during this time of year, it’s rare that a bank, lawyers office, or real estate firm is completely closed for many days other than the actual holiday. Which means someone is there working, and it’s probably not very busy, so you can expect to get your paperwork faster than during the peak summer rush of real estate.
4. Prices are historically lower
Lots of sellers drop prices toward the end of the year in an attempt to entice buyers to make a move. Also, interest rates tend to be lower at the end of the year, which helps in saving you money over the long run.
5. Tax benefits
Buying before the end of the year results in an immediate deduction on this year’s tax return. Plus, some of your closing costs and points may be tax deductible as well.
Holiday season, spring time, summer and fall – If you have real estate to sell or buy, I’m always in the market to help. I’ve got stats and info on all 1,300+ listings in the Eastern NC area. Call Kathy Richey at 252.474.6469 or http://www.NewBernHomesFinder.com for more information!