The New Year is approaching quickly, but there's still time for you to find your dream home in Northern Virginia this year. Many buyers take time off at the holidays if they haven't found a home, so for the serious buyer, it is an ideal time to ramp up the home search. Here are 5 reasons why you should buy a home in Northern Virginia before January:
#1: Competition is low
Serious buyers will be looking at homes no matter the time of year, through rain, sleet, snow, or hail. Not all buyers are serious, however, or at least not serious enough to keep up the same pace through the holiday season. If you are still actively searching around the holidays, you will be one of the few.
Serious buyers will be looking at homes no matter the time of year, through rain, sleet, snow, or hail. Not all buyers are serious, however, or at least not serious enough to keep up the same pace through the holiday season. If you are still actively searching around the holidays, you will be one of the few.
#2: Sellers are motivated
If a home is still on the market during the holidays, chances are it's been there for a while. Usually that means the house was overpriced for a time and missed the "sweet spot" to sell quickly. What that means for you is that you can get a great house that may have been overlooked when the market was hot, and you can get it at a lower price from the motivated seller.
If a home is still on the market during the holidays, chances are it's been there for a while. Usually that means the house was overpriced for a time and missed the "sweet spot" to sell quickly. What that means for you is that you can get a great house that may have been overlooked when the market was hot, and you can get it at a lower price from the motivated seller.
#3: Rates are going up
Just this month, the Fed upped the mortgage rates for the first time since 2006, and every prediction has them going even higher in 2016. Secure a lower monthly payment for yourself by making an offer on a house now. Waiting for the spring market could cost you more than you realize.
Just this month, the Fed upped the mortgage rates for the first time since 2006, and every prediction has them going even higher in 2016. Secure a lower monthly payment for yourself by making an offer on a house now. Waiting for the spring market could cost you more than you realize.
#4: Inventory will go down
New Year's Eve brings about many thoughts for change in the new year, and many sellers decide that they will wait for the spring market to sell if they haven't sold their home in December. It serves you well to take the time to search for homes now before the inventory is too low and your selection is limited.
New Year's Eve brings about many thoughts for change in the new year, and many sellers decide that they will wait for the spring market to sell if they haven't sold their home in December. It serves you well to take the time to search for homes now before the inventory is too low and your selection is limited.
#5: Start the new year fresh
While it's important to make sure your new home meets your needs, it will also be a huge weight off your shoulders to know that you are under contract on your new home and well on your way to a brand new home for a brand new year. You will have beat the rush, earned a great value on the new house, and bought yourself some peace of mind. What a great way to start 2016!
While it's important to make sure your new home meets your needs, it will also be a huge weight off your shoulders to know that you are under contract on your new home and well on your way to a brand new home for a brand new year. You will have beat the rush, earned a great value on the new house, and bought yourself some peace of mind. What a great way to start 2016!
Are you buying a home in Northern Virginia? Whether it's this year or next, contact Preferred Realty Partners to help you get the best value of the season!
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