Common wisdom has it that spring is the best time to buy or sell a house. But in today’s topsy-turvy economy, that wisdom gets turned on its head. Bargain-basement interest rates now are just one reason you shouldn’t wait to buy or sell your home. Here are a few others.
- Winter weather shrinks your competition pool. Most people won’t have the foresight to trump the tradition of a springtime listing. While others are waiting for their dogwoods to bloom before they put their house up for sale, you’ll be taking advantage of a leaner market. With fewer houses listed, buyers will notice yours.
- Sell before the shadow market casts its gloom. The lag time between a homeowner defaulting on a loan and the bank foreclosing on that property is referred to as the shadow market. Indicators now point to a glut of foreclosures by early next year. By putting your house up for sale now, you’ll avoid the competition of these underpriced properties.
- Enjoy fewer showings. We all want as many showings as possible, right? Wrong! By listing now, you eliminate disruptions from house-hunter hobbyists. Not only will you get fewer of those dreaded dinnertime calls to vacate the house for a prospective buyer’s visit, the visitors who do come to see your home will be motivated buyers. When you leave your house for a showing, you’ll know it’s for good reason. Which leads to the next reason to list now...
- Just like people, houses look prettier when dressed up for the holidays! Whether it’s a cornucopia of gourds and pumpkins, the twined roping of fragrant pine, or the soft glow of a menorah in the window, the season’s decorations give your home an added touch of beauty that buyers will instinctively respond to.
For buyers, there are just as many compelling reasons to start your home search now, instead of waiting for winter’s thaw.
- While the real estate market has begun showing signs of recovery, homes are still more affordable than ever before. Deflated prices combined with the best interest rates in decades mean that it now costs less to buy than to rent. This is good news not only for buyers savvy enough to strike while conditions are hot, but it also means...
- Now is the ideal time to buy investment property. Rents are rising across the Kansas City region. With a favorable ratio of money spent on a mortgage to money earned from rent, cautious and bold investors alike are turning to real estate as a way to expand their investment portfolios. By buying now, you’ll not only reap the benefits of low prices and low interest rates, you’ll also be jumping the competition in finding renters to pay your mortgage.
- Some things never change. Whether you’re buying a home or an investment property, real estate still offers one of the best tax deductions available.