I’ve been in the mortgage business over 22 years and over that time, I’ve noticed patterns. For instance, the market always takes a pause around the holidays. Buyers typically either want to be in their new home before the holidays – especially Christmas – or they typically wait until after the new year (often times until toward the end of the school year).
This provides a once-a-year opportunity
I had a client who put in offers on several homes over last spring and early summer only to lose out to multiple offer situations with “highest and best” offers. They took a break for a couple of months and decided to give it another try. They got an offer accepted that was below asking price AND didn’t have to compete with a bunch of other offers.
Many investing gurus say that you shouldn’t always follow the crowd. I think that advice applies here – buy a home now while everyone else is waiting until next year – you’ll get a better price, better rates (they are trending up) and you’ll give yourself and your family an AWESOME Christmas present. BONUS: if you move in over the Christmas break, your whole family will be able to help with the kids out of school and a week off of work for you (assuming you have a week of vacation left). Feel free to contact me to see how much you qualify for – happy house hunting.