There's No Winter Break in Real Estate
The winter months are right around the corner, and many homebuyers and sellers are wondering whether or not to put their real estate goals on hiatus until springtime. Before you go into hibernation, here are a few points to consider about the opportunities available in the coming months.
Serious Buyers and Sellers
Warm weather brings a more leisurely tone to the real estate market, which means buyers and sellers aren't as motivated to act quickly. However, those who choose to enter the market during the cold Chicago winter, often have a specific reason for wanting -- or needing -- to move. Whether it's a job relocation, a family change or simply a need to hit an end-of-year goal, these buyers and sellers are serious about making a change.
Less Competition
Demand does increase during the spring season ... but so does supply. This leads to fierce competition for both buyers and sellers that can become frustrating. Because the market slows down in the fall, there are fewer chances for multiple offers or overcrowded showings. Wintertime is about quality over quantity, and both sides tend to be much more open to negotiation.
Today's (Continuing) Low Interest Rates
Current average rates for both 30- and 15-year fixed-rate mortgages continue to hit historic lows, even dropping below four percent. These levels have inspired an increase in mortgage applications, which translates to more buyers in the marketplace. Now is the time to take advantage of this financial opportunity.
If you are looking to buy or sell in the coming months, let's brave the cold together. I can help you create a plan to accomplish your real estate goals in the shortest amount of time and with the least amount of inconvenience.
Please feel free to reach out with your questions and referrals.
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