Why Winter House Hunting Is Appealing for Buyers
When the weather outside is frightful, trudging door to door to look at houses might seem like a pain. While spring and summer are the prime-time seasons for home buying, you can argue that winter might be the best time to buy a house. Here are three reasons why!
Icy winter weather can take a toll on a house during the winter months. This gives you the perfect opportunity to evaluate the property under the worst conditions possible. A home that might seem perfect during the temperate spring could look totally different in the winter. Plus, you’ll get a better idea of what you might be dealing with during frosty winter days before making a serious commitment. For example, is that driveway going to be a pain in the you-know-what to shovel?
Plenty of buyers are not looking at houses in single-digit temperatures. In fact, the months of May, June, July, and August make up 40% of existing-home sales, while November to February, account for 27% of an average year’s total home-selling volume. Typically, sellers that list their home in winter seriously want to sell which gives buyers the upper hand. Less competition in the housing market makes it easier for buyers and sellers to strike a deal.
Inclined Servicing Professionals
The winter “off-season” also provides additional opportunities with servicing professionals such as lenders, realtors, appraisers, home inspectors, and movers. Servicing professionals have more time on their hands, and they can provide their services faster with fewer clients in the pipeline. It’s a win-win for buyers as these professionals are even more eager to offer their services and have more time to cater to the buyer’s needs.
With rates still near historic lows, now is a good time to talk to a mortgage professional to discuss your home ownership goals. In fact, refinancing is booming right now with requests for refinances making up 64 percent of total mortgage applications the first full week of July, according to the Mortgage Banker’s Association. Here are four signs it might be time for you to consider refinancing your mortgage!
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