The Time Is Near

Did you know that one of the best times to buy a home is nearly upon us? The 60 days between 11/15 and 1/15 is typically a "sweet spot" for buyers. If you're in the market to buy, are you financially prepared?

Sellers who have their homes on the market now are motivated. They may want to sell and settle by year end for tax purposes. Buyers can have leverage. They may be able to negotiate a lower sales price or ask sellers to pay a credit towards closing costs or BOTH!

Prospective buyers may want to table to homebuying process until the new year. They think they may be able to get a better rate. It's possible but with lower rate comes more competition and a HIGHER sales price. Is it worth it? Consider that the net worth of an owner is 40X that of a renter.

Here are some fast stats from Altos Research:

• 567K single family homes on the market (up 0.7% from last week)
• Inventory is growing in November which is rare
• 62K new listings this week and 9K of those are already in contract
• 39.2% of homes on the market have had a price reduction

Many signs pointing to buyers being able to negotiate right now. Wait too much longer and you just might miss this 60-day advantage for buyers.

Thought for the week and beyond: "We don't stop playing because we grow old; we grow old because we stop playing" - George Bernard Shaw

www.chrisryanloans.com

If you know someone looking to buy, refinance or build a home, it would be my privilege to assist them.

Refinancing or Buying, Contact Chris Ryan!