Surprise! Right Now May be the Best Time to Buy or Sell a Home
“Traditional wisdom” says that spring is the time everyone wants to buy a house, so it’s the best time to buy and the best time to be in the market to sell one.
But not only is that not true, it’s not even true that there are more people serious about buying in the spring. According to Amanda Howard, the real estate broker quoted here, the lines of people going to one open house after another are more motivated by spring fever than they are buying fever and it’s people who are shopping for a home in the fall who are more likely to be the serious shoppers.
So if people go “window shopping” in the spring but get serious about buying in the fall what does that mean if you’re looking to sell your house, or if you’re shopping for your dream home?
If you’re selling it can mean fewer people traipsing through doing the looky-loo and a shorter time before you have a serious offer. If you’re buying it can mean less competition for offers and sellers more motivated to negotiate the selling price.
According to Time.com, “after reviewing more than 32 million real estate sales since 2000, RealtyTrac analysts have discovered October is the best month to close on a home purchase. That’s when people get serious, they’re willing to negotiate and they’re ready to make a decision.”
The Time article lists several other perks of going after your dream home this month, not the least of which is that the Fed meets again soon to hash out interest rates and that could mean bad news for mortgage rates.
Whatever is motivating you, if your dream depends on getting the right mortgage our licensed loan officers are here to help. We can even help you close on your new home in eight days. Call us today or start the process with a simple online application.