Are you thinking about buying a home, but not sure if you should buy now or wait until Spring? Maybe you’re on the fence about making that leap to first-time homeownership, and wondering if this is a better time to buy, or next year would be better. Or maybe you’re wondering if we’re already getting late into the season, and we missed the Spring/Summerp peak of good houses.
Of course everyone’s situation is different, and you have to consider your circumstances, financing availability, down payment funds, etc. But here’s why the Vaz+Harwood team thinks this a great time to be on the buyer side of the real estate market. 4 very simple reasons:
Wow, they are still low. So how long will this low interest rate period this last? Well, no one has a crystal ball to predict what the Feds will do, or how the economy will perform in the future. What we do know for sure is that with interest rates this low it’s hard to see that there’s any place they’ll go but up. As interest rates rise, your purchasing power as a buyer—what you can afford to borrow—goes down. If you buy now, you can take advantage of the historically low interest rates that we’re currently enjoying.
The election will change the real state market radically in the US, because half the country is moving to Canada if their candidate doesn’t win. Just kidding about that! What the election will really do is interject some degree of uncertainty. All politics aside, we simply don’t know for certain how any candidate will affect the real estate market next year. We do know for certain that interest rates right now make it a good time to be a buyer.
There are many good houses to choose from
Yes, inventory is still low—that’s true, and sellers have some advantages due to it. But there are still plenty of great houses to choose from, and new listings coming on the market every day. If, as a buyer, you’re prepared to be decisive and act quickly, AND have a pre-approved letter handy, you will be able to write an offer on the house you want and hopefully get it. This is where having a great real estate agent in your corner really helps. The average days on market has also slowed down a bit from this summer’s hectic pace, where many houses have been selling in days. So as a buyer, you are in a good spot!
Want to be in your new house by Thanksgiving or Christmas?
There’s still time! In October, it’s not at all unlikely or impossible to find your cozy new home, and get you signed, closed and moved in by winter and the holidays.
The bottom line—if you’re pre-approved for a mortgage (if you aren’t, call us and we can hook you up with some kickass mortgage brokers!), and are just wondering if you should look now or hold off, we say there are a number of sound reasons to go house shopping this Fall. And we would love to be your buyer’s agent!
Copyright 2016 Vaz+Harwood Team at Keller Williams Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated.