Now the Shopping begins!
Black Friday and Cyber Monday are behind us now. Yet there is so much shopping to be done in December.
Perhaps you are ahead of the curve and have something for everyone bought and wrapped under the tree put out as you decked the halls this past weekend.
If you are done shopping(or perhaps are the poster child for multi-tasking), now is still a great time to buy or sell a house.
As a buyer, you have the following advantages:
1) Less competition for homes in the same tight inventory
2) Home Owners seeking to close by the end of 2016
3) Great Low Interest Rates
4) Uncertainty of Presidential Elections is over
5) Or learning market as you prepare for 2017 purchase
As a seller, you have the following advantages:
1) Fewer homes to compete with for a buyer
2) Being the “new kid on the block”, extra attention paid
3) House looks warm and inviting all decked out for the
4) Capture buyers looking to close before the year ends.
5) Hot time for Relocation Buyers looking to close in
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For home buyers, one of the most misunderstood points of buying a home is the amount of down payment required to purchase a home. Though it can be 0% t0 3%, home buyers believe they need a 20% down payment for any mortgage.
While military and former military can get 0% financing, anybody else can do 3%.
A sign that the housing market isn’t slowing down is the continued pent up demand. Stubbornly low inventories are causing some buyers not to find the house they seek. As long as there is pent up demand, there will be a need for home owners to sell and will keep prices strong to rising.
For Chesapeake and all of Hampton Roads, the low inventories, low rates and improving market has not been able to keep home sales up every month over the prior month or last year. Reports of home sales down is conditional(no homes to sell) versus systemic(housing market declining).
If you are ready to move, it is time to call. There is never a bad time to sell or buy real estate. With the market ever improving, it is only “a best time” to buy or sell.