There are many reasons for buyers to take advantage of the holiday season.
Does it make sense to buy during this festive time of year? The weather might be cool, but you can still find a hot deal. Here are three reasons why you can get a deal during the holidays:
1. Motivated sellers. The narrative right now is that it’s not a good time to sell. Many homeowners aren’t putting their homes on the market, so if someone is on the market right now, there is probably a real motivation for them to sell. As a result, you might be able to negotiate a significantly better deal.
2. Less competition. Unless buyers are truly motivated, they’re not looking during the holiday season, so there’s less direct competition. They’re out traveling, spending time with friends and family, and doing holiday stuff instead.
3. Affordability. Rates were very high about two to four weeks ago. They’ve come down now to the low-6% range for a 30-year fixed. If you get a creative loan like an ARM or a 3-1 buydown, you could start your rates between 3% and 4%. Affordability hasn’t been this high for a long time.
If you’re looking to buy, now might be a great time to act. If you have any questions, don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.