December and New Year’s Day give you the perfect opportunity to buy real estate at a lower price. Not only can you pick up a bargain property from a motivated seller, but you can also save on your purchase expenses.
1. The warmth and cheer of the holiday season cause home shoppers to derail their home search. Additionally, the cold weather makes potential home buyers prefer to stay home; instead, they wait for warm weather to buy real estate. This provides a competitive edge for you to capitalize on homes currently listed on the market.
2. Home sellers who didn’t sell during the recent buying frenzy are worried that their homes will not sell. Any seller offering their home for sale during the holiday season is motivated.
3. Real estate agents need to keep their momentum going and can’t afford to take too much time off. December is considered a slower month for agents, so they are readily available to help you purchase your next property.
4. Home interest rates are unpredictable. Although they are at an all-time low rate today, it is impossible to know if the rates will rise significantly in the upcoming months.
5. Lenders typically warn buyers of more stringent requirements to secure a home loan in the upcoming year. Last summer, loan officers were able to get through almost any loan. Today is your best shot to buy real estate and get a great rate with the easiest qualifications.
6. Appraisers typically experience a slower season. Furthermore, appraisal fees could be reduced during December, which could save you some more money.
Set some time aside in December to search for your next property.