While everyone knows that the big home buying season typically occurs in early Spring through Fall, savvy home buyers are beginning to figure out that there are some amazing opportunities to find and buy the perfect home during the holiday season from Thanksgiving through to Christmas.
Here are the Top 4 Reasons Why:
1) Less Competition: The holiday season means less people looking for homes which means a reduced number of multiple bids and/or heated bidding wars for a home.
2) Motivated Home Sellers: For those sellers who can’t wait to list their home during peak seasons (e.g. moving out of town, tax benefit, etc), this typically means the seller may be more motivated to sell their home with less negotiation and more willingness to concede conditions made by prospective buyers.
3) Faster Mortgage Approval: A slower real estate season means banks and mortgage lenders may be hungrier for new client business and more willing to provide reduced fee mortgages to secure your business. That said, it still pays to shop around and get the best overall deal for your mortgage regardless of the time of year.
4) Better Prices: Less home inventory on the market, more motivated sellers and less competition could translate into buying a home for much more competitive price resulting in thousands of dollars being saved.