In real estate there’s an optimum time for buying or selling a home. Normally early spring has been the idea time for selling and late fall and winter are actually the perfect time for buying. Occasionally families are not in a position to take advantage of the seasonal benefits for a number of reasons. A couple with kids in school are not going to purchase a home in November or December, regardless of the potential for negotiating a great deal with a seller. On the other side, a homeowner transferring to a new out-of-town job might be forced to sell out of season. Circumstances will determine the eventual decision of either party.
This year could toss out the seasonal theories that have historically been proven as truth. The low inventory of homes plus lowering interest rates have combined to make our current end of the year in real estate prosperous for both buyer and seller. With so few homes to bid on providing sellers with a tidy appreciation increases and buyers determined to take full advantage of mortgage rates have created a demand on the supply that have helped spur on our housing market.
Neither of these conditions are expected to change much in the coming year. Expect a limited supply of homes for sale for the forseeable future and mortgage rates straddling historical lows. Homeowners are more likely to hold their property as home prices stabilize or increase. Interest rates will be constrained by the fed, at least until the overall economy shows signs of life. There is pent-up demand for more properly priced homes by consumers that have lost out once or twice on other homes that received multiple offers.
What makes buying a home today so rewarding? Those mortgage rates that will save a buyer thousands of dollars over the life of the loan. The fact that home values have hit rock bottom and have started an upward trend in many communities throughout the country are incentive enough.
What makes selling a home today so beneficial? In some ways it almost feels like the old days ( minus the inflated prices), when homes hit the market and a flood of offers soon follow. Many buyers are being much more lenient in their demands because of the limited inventory. This is as good a time as any in the recent past to sell a home. Selling a property to buy a home today is a little stressful, but there are ways to assure you won’t be homeless. A rent back on your home or an extra long escrow can remove the stress. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.