1. Only Serious Buyers Are Out
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.
2. There is Far Less Competition in Some Neighborhoods
In Park City, the housing inventory in neighborhoods with full time residents always shrinks dramatically at this time of year. The winter resort properties usually hit the market in December, creating a window of opportunity right now. Inventories in some neighborhoods are extremely low or non-existent.
3. The Process Will Be Quicker
One of the biggest challenges of the 2012 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.
4. There Will Never Be a Better Time to Move-Up
If you are considering moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 15% from now to 2016. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
You can also lock-in a 30-year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.
5. If It’s Time to Move On…Why Wait?
If you are considering a move, ask yourself if it is worth waiting. What will you gain by waiting? What opportunities do you stand to lose?
—-This blog was inspired by a post on www.keepingmatterscurrent.com