When Is It a Good Time to Buy?
When you’re looking for a home, you understably want to get the most for your money. While most buyers expect to negotiate a home’s sale price somewhat, some days and months of the year may give them more wiggle room than others. Market fluctuations, as well, can affect how much bargaining power the buyer has.
‘Tis the Season
If you’re a buyer who missed spring homebuying season this year, you don’t need to worry. Many of the best deals on the market can be found in the off-season, especially in winter. While the spring frenzy is the most popular time to buy and sell homes, it also means that agents during that time are overly busy, and there is fierce competition over homes.
Many experts believe December is the best time of year to land an exceptionally good deal. Not only are there fewer buyers shopping the market, homeowners with properties for sale in December are almost always willing to move them and consider deals. The week before Christmas is a particularly good time to househunt, as you will be one of the few out there looking!
In periods of lower interest rates, generally there is a rush to buy homes. First-time buyers, especially, often wait to take advantage of lower interest rates, or receive the final incentive they need to enter the market during these attractive buying times. While low interest rates do translate to mortgage payment savings, they also mean more competition for homes.
Higher-interest periods may discourage some investors and buyers from entering the market. While this phenomenon may not directly correlate with lower listing prices, sellers may have fewer buyers to choose from, giving the buyer more negotiating power.
If you are ready to buy or sell a home in the Napa area of California, Brad Simpkins at RE/MAX Gold is ready to help you achieve your goals. Located at 529 Soscol Ave, we work tirelessly on your behalf for the best possible sale. Please call (707) 246-4584 to get in touch with one of our real estate agents today!