Many people feel they are too busy to search for a home during the holiday season, but what a great gift to yourself if you are a buyer! How wonderful would it be to celebrate Christmas in your new home!
Being in by next month might be difficult if you need financing, but if you buy now, you will be able to share the joy of a new home with friends and family very soon. The story of how you looked for a home in the midst of the year's biggest shopping season will be part of holiday lore for years to come as you celebrate future holidays there.
Lawrence Yun, National Association of Realtors chief economist noted that mortgage payments have significantly decreased recently which is allowing more people to buy homes. Due to lower home prices and low mortgage rates a typical mortgage payment takes less than 25% of a middle-income family's monthly income. These are the lowest percentages since the 1970. "As long as home-buyers stay within their budget, mortgage payments will be very manageable," says Yun. Along with the new tax credit, historically low interest and lower home price are incentives to buy during this holiday season.
What are some other great reasons to buy now?
•· Sellers are motivated as they want to clean up past debt and prepare for the new year on a positive note
•· Since the holidays are usually slow, those sellers who have their homes on the market now really want to sell and are likely to make concessions to help this happen
•· With so many buyers busy with other things this time of year, an on-the-ball buyer can get a more desirable home.
•· Fewer transactions means faster closings. A typical loan can take 30-60 days to close due to so many people filling out applications.
•· Even without the forces at play this year, interest rates notoriously stay low during the holiday season, and increase slightly after the new year.
•· If you close on or before December 31 you may be able to deduct the interest on your first monthly payment.
This is also a great time to sell your home as fewer people put their homes on the market since they know buyers tend to put off house hunting until after the holidays. Especially this year, when the tax credit is expected to arouse buyers' interest, having our home on the market first will increase your chances of selling in less time. Get a jump on everyone who will wait until 2010!
Buyers - make this holiday season special and start looking for that new home now. There are many sellers out there that have the gift of a new home waiting for you. Cyndi Nelson can make this happen for you, whether you are buying or selling in Olympia, Lacey, Shelton Tumwater Tumwater Yelm, Rainier, Rochester or Tenino,. Visit my Exit Realty Boardwalk website today!
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