5 Tips To Buying A Home During The Holidays

#1  Applying for a Mortgage First is More Important than Ever

You should first apply for mortgage preapproval. This helps you move quickly when making an offer because it provides you a precise sense of what price range you should be searching in.

The most important activity a buyer can take to guarantee a successful transaction is to get preapproved for a home loan.  With interest rates fluctuating often, it's crucial to know how much house you can afford and what it would mean for your purchasing power if rates rise while you're looking for a home.

#2 Less Competition 

 The same problems that make relocating during the holidays difficult also deter individuals from looking for homes during that period. While there may be fewer properties on the market, there are also fewer homebuyers, so any home that meets your needs should face less competition.

#3 Sellers Are More Motivated During the Holidays 

Moving during the holidays is seldom a fun experience for either homebuyers or sellers. People who are selling their homes over the holidays probably have strong motivation to do so. Perhaps they need to move for a new career, or maybe they need to sell their house before the year is over since it has been on the market for a while. You have a lot of leverage to negotiate a lower price when you combine motivated sellers with fewer competitors.

Moving during the holidays is seldom a fun experience for either homebuyers or sellers. People who are selling their homes over the holidays probably have strong motivation to do so. Perhaps they need to move for a new career, or maybe they need to sell their house before the year is over since it has been on the market for a while. You have a lot of leverage to negotiate a lower price when you combine motivated sellers with fewer competitors.

#4 Expect Lower Prices 

A general lack of housing has contributed to the sharp rise in home prices. But historically, December is the month with the lowest property prices, in part because of the factors mentioned above. Although there is no assurance that the pattern will continue this year, it is still worthwhile to examine the costs in our local market where it fits your plans.

#5 Motivated Agents

Real estate agents are working with fewer clients since the housing market is less active. They have more time to focus on your issue, and since there aren't as many opportunities for them to make a sales commission, you'll get their full attention to make your transaction as smooth as possible 

Our commitment as your real estate professional is to help you find your dream home at the right timing for you.

It's the biggest purchase of your life, and can assure you that even small mistakes can be costly.  BEWARE, technology changes almost daily and I can help you pinpoint all the homes for sale near your location points. I have access to over 18 million properties from hundreds of locations, including Government  properties, action homes, VA homes, HUD Properties and all available private houses for sale in between.

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Fernando Herboso Broker 301-246-0001