Most people are under the 
impression that spring and summer are the best times to buy and sell real estate in Central PA. While it’s true that there are more total buyers and sellers out in the market during that time, that doesn’t mean that it’s the best time of year to buy or sell a home.
Buying and/or selling during the winter months and holiday season offers some unique advantages that you wouldn’t get during the warmer months. First, let’s look at the advantages of selling.
I recently read an article from financial guru Dave Ramsey about three great advantages to selling during the holidays. Here’s a breakdown of each of them.
- Less competition- Many homeowners don’t want the hassle of selling during the holidays, so they will wait until the new year. With less competition for your home in the fall and winter, you have a better chance of catching a buyer’s eye and selling.
- Motivated buyers- Anyone who takes time out of their busy holiday schedule to look at homes is looking to buy now. Maybe they have to buy for tax reasons, or because they are being relocated for their job.
- Your home looks great- Emotion plays a huge part in home purchases. By making your home comfortable and cozy, you can capitalize on those feelings, which will make buyers more likely to pull the trigger.
All the serious buyers just don’t disappear after Labor Day. They are still around, and if your home is for sale now, you are in a great position to sell your home faster and for more money by taking advantage of these market conditions. You see why it’s a good time to sell, but why is it a good time to buy in the winter months as well?
One thing you may not be aware of is that historically, home prices are lower in December than any other month. In addition to this, the current national home appreciation rate is at 6.4%, but are expected to grow at half their current pace in the coming year. These conditions will put more power in the hands of buyers. Here are three other reasons to consider buying now:
- Low interest rates- Rates are currently in the 4% range, which is historically low, but expected to rise up to 5% by the end of 2015. Locking in a rate now is smart.
- Motivated sellers- Oftentimes when sellers list their home at this time of year, they are looking to sell before the year is over. Regardless of why they are selling, with less competition you are going to be in a much better position as a buyer than you would in the spring or summer.
- Tax savings- Closing on a new home before December 31 will give you some tax breaks. You can deduct home purchase costs, including mortgage interest and property taxes.
As you can see, the winter market is pretty unique, and offers great incentives for both buyers and sellers to brave the cold and get a deal done. If you have any questions for us, or are interested in buying or selling in Central PA this fall, we would love to hear from you. Just give us a call or send us an email, and we will be in touch right away! Ready to brave the cold with you!
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