It is officially the Holiday Season when the real estate market slows down to a slow crawl. Right?
Not really. In fact, it doesn’t slow down that much at all. A pace reduction of only 30% is hardly a crawl. That means that during this time of year, the market is bustling along at 70% of its Summer speed and from my perspective, that’s a pretty good pace.
Why sell a house now?
Interest rates are below ‘low.’ This morning, Homestreet Bank (Windermere Mortgage, yes, we are affiliated) said it is offering 30-year, fixed-rate, fully amortized loans at, get this, 3.95%! Fifteen-year loans are even lower than that!
Interest rates this low means buyers get more house for their money because the dip in interest rate means they can afford more house. And that makes this an excellent time to buy. And sell. There are a lot of people who do not really want their homes on the market during the holiday season. It makes sense. But it also means you, as a Seller in this market, this time of year, have less competition. Less competition means opportunities to reduce your price are fewer, and the likelihood you’ll get your price, is greater. Selling your home right now increases your chances of being handsomely rewarded for your time and effort, and that you’ll have to expend less time and effort to sell.
Buy right now? What about buying right now?
That’s a good question. Interest rates are lower now than I have ever seen them. That means you may be able to afford the home of your dreams. It means you, Buyers, too may be handsomely rewarded for your time and effort.
It is a great time to sell and a great time to buy. Don’t let the holiday season, or the weather, dissuade you. There are some amazing properties out there. I was out on Broker Tour yesterday and this morning and found myself ooh-ing and aw-ing at completely remodeled homes, at great investment homes (that need some updating), and at some newer properties that were beautifully staged. More than once I found it difficult to pay attention to the property and stop staring at the view.
Are you dreaming of waking up to a view? I have a property (or five) with views that will inspire you and make your friends ask you how you ever got so lucky.
Give me a call and we’ll go take a look! I’ll say, “You have got to see this!”
Amy Munsey, Broker
Windermere Cronin & Caplan Realty Group, Inc.
Call (971) 258-5500 or Email Amy@AmyMunsey.com