Today we will discuss why you should start the home buying process now instead of waiting until the spring. We’ve got three reasons for you today, and each one of them highlights the importance of acting while conditions are ideal. Here they are:
1. Less competition There are fewer buyers out looking for a home right now than there are in the spring, so you can buy a home for less money than you would be able to when demand is high.
2. Rates are low Interest rates are under 4% right now. We don’t know where they will be in a few months, but we do know that buying now when they are low is a sure thing.
3. Home buying takes longer than we think The entire process can take quite a long time. Maybe you won’t find something right away that suits you. It’s best to allow yourself a cushion of more time.
Thanks for joining us today. If you have any questions, give us a call or send us an email. We look forward to hearing from you!
Overall, we’re currently experiencing a balanced market here in Bucks and Montgomery County with about four months of supply available. We also see more multiple offer situations, such as four offers for one home. In those specific areas, there’s about a one to two month supply of homes on the market. The market doesn’t favor buyers nor sellers. However, it is an opportune time for both parties to act now. Here’s why.
According to our local key metrics, there were 2,583 homes for sale in the fourth quarter last year. That’s a decrease of 16.5% compared to the year prior. Inventory decreased 26.8% as well. Sellers can expect their home to be on the market for about 87 days, which is down by 5.9%. Clearly, the market is heating up! The average sales price has even increased by 2.9%. If you’ve been thinking about selling, now is a great time to act. Plus, interest rates are still under 4%, so buyers also have a great shot as well. Remember to give me a call or send me an email if you’re interested in buying or selling this spring!
I’ve got some exciting news to share with you all today! I have decided to share my real estate expertise with all of you through a new video blog. I am extremely excited to get started with this.
Each month, I’ll be sending out two emails talking about trends in our local real estate market. I’ll be touching on changes to the lending and title worlds as well, which affect all of us in real estate. All of these industries are intertwined, and to take full advantage of the real estate market, you need to know about all of them.
Rather than simply guess what’s on your mind, I wanted to reach out to you today and ask what questions you have about real estate. Are there any concepts that confuse you? Are you curious about the market in your particular area or neighborhood?
I would love to answer your specific questions in my videos so other people with similar questions can benefit from them as well. If you have any questions, give us a call or send us an email. We would love to hear from you!
