SHOPPING FOR A HOME IN THE WINTER


If you've been thinking about buying a new home, winter is the time to start getting serious.

Here are a few reasons to brave the cold and go on a house hunt:
The winter season has fewer units on the market, and sellers tend to need to move from their property. You can use that to your advantage to get a favorable deal.

Winter has fewer buyers in the market. Looking for a home in the winter can be inconvenient, and people are less likely to move. Families also tend to be on a September to June cycle because they are unwilling to move their children to a new town in the middle of the school year. Fewer buyers means less competition.



Lenders also usually have fewer loans to process and less paperwork to deal with (though this can change quickly if rates fluctuate). With lenders less hassled, you can expect a smoother process to get approved for a mortgage. But, as reported in Bankrate.com, there are exceptions to this rule, most notably in warmer parts of the country (especially Florida), ski towns, and in parts of the country where demand is so strong that it will not slacken during the winter months.

Finally, as all savvy shoppers know, after the holiday season comes the season of bargain opportunities. This includes houses, as well.

This article is reprinted by permission from RealEstateJournal.com

HAPPY THANKSGIVING

A little humor for today

Ask For Raise

"I have to have a raise in my commission," the agent said to his manager. "There are three other companies after me.""Is that so?" asked the manager. "What other companies are after you?""The electric company, the telephone company, and the gas company."

"It's a Great Time to Buy a Home

Low rates and extraordinary inventory have created perfect conditions for home buyers
Take a moment to consider these facts:
You've never had more homes to choose from
There are currently 3.75 million homes for sale. Inventories in recent months have been at record levels, offering consumers the greatest choice in decades.
However, inventory levels are falling, and the selection of homes will become limited once again.
Former Federal Reserve Chair Alan Greenspan recently said that housing prospects are looking up. “Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter.” According to industry estimates, 2006 will be the third-best year on record for home sales. Interest rates haven't been this low for nearly 40 years
At 6.4 percent, the average 30-year fixed rate mortgage rate remains near 40-year lows. This is more than an entire percentage point below 2000 levels. For a $250,000 loan, a drop from 7.5 percent to 6.5 percent means an annual savings of $2,000.

Real estate is a great investment
The average home value increased by 88 percent over the last ten years. In the decade to come, the number of US households is expected to increase by 15 percent, which means housing will stay in high demand.
While conditions for buyers are perfect now, that is likely to change next year as sales pick up, prices gain traction, and conditions improve for sellers. In today's real estate market, the best time to buy is now. " -- taken from http://www.realtor.org/home_buyers_and_sellers/its_a_great_time_to_buy_a_home.html

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