Spring has historically been a very busy time in the housing market. Once the weather starts warming up, more homes pop up on the market and buyers come out in full force. So, we’re here to tell you all the reasons we think you should buy a home this winter.
Less competition
In the warmer months, it’s not uncommon to have homes on the market for only a day, which can be discouraging to some buyers. These buyers often feel like if they don’t make a decision about the home on the spot, it will be gone in a few hours.
Winter is a great time for buyers who want a little more time to make their decisions. There aren’t nearly as many buyers out looking for homes, meaning there’s less of a chance a home will be bought before you can make up your mind.
More attention
Since there are fewer people looking to buy and fewer homes on the market, you will get more attention from everyone involved in the mortgage process. That’s not to say you wouldn’t be taken care of in the busy months, we’re just saying you’ll have more undivided attention from both your realtor and mortgage lender in the winter.
Prices and interest rates are predicted to increase
If you need more reasons to buy a home this winter, CoreLogic’s latest Home Price Insight report predicts that home prices will continue to rise at a rate of 4.7% throughout the next year. In addition to rising prices, interest rates are expected to rise in 2019. As we’ve mentioned before, even a fraction of a percent can make a big difference in the amount of interest you pay – to the tune of thousands of dollars over the life of your loan.
If you’re thinking about buying a home in the near future, we urge you to take a look at the homes available this winter. Even if you don’t find ‘the one’, you’ll be pre-approved and have an idea of what you’re looking for come spring.
To begin the pre-approval process with us, please fill out our online application. And don’t hesitate to give us a call with any questions. You can reach us at 402-991-5153 any time, including nights and weekends.
© Mortgage Specialists.