The holiday season is in full swing, and 2014 is almost over. At this time of year, shopping for a home might be the last thing on your mind. But December can actually be a fantastic time to shop for and purchase a home – especially this year. If you have time to look at homes that are for sale this holiday season, you might be pleasantly surprised by the inventory that is currently available – not to mention that mortgage interest rates are currently very low.
Following are a few examples of why it can be a great idea to shop for a home during the holiday season:
The holiday season is typically a slow season for real estate transactions. Traditionally, spring through summer is the busiest time of year to sell and/or purchase a home. December is usually quiet in the world of real estate because most people are focused on the holidays. People are busy with their families, holiday festivities, cold weather, and traveling. However, when homes are for sale during December, it usually means that people trying to sell are serious about finding a buyer. This results in nice opportunities for potential buyers. Not only are sellers often motivated in December, but bidding wars are also less likely at this time of year.
Mortgage interest rates are currently low. There’s no way to say with 100 percent certainty that interest rates will not go any lower than they are right now. In fact, there is a good chance that mortgage interest rates will begin to creep up in 2015. If you want to lock in an excellent mortgage interest rate, it’s not too late. Most mortgage brokers and lenders are open for business every day during December except for Christmas day.
You might be able to purchase a nice property for less than its asking price. If a home is for sale in December, it typically means that the seller wants the property sold as soon as possible. In fact, many people who were unsuccessful selling their home during the summer and/or fall take their house off the market and do not re-list it until the next spring. Having a home for sale during December is not necessarily convenient for most home owners. Therefore, if you see a home for sale in December, you may be able to offer less than the asking price for the property – and the seller might accept your offer more willingly than they would during the spring or summer.
There are many reasons to look for a home to purchase during the month of December. If you have time to look for a house during the holiday season, you might be surprised by all of the opportunities that currently exist!