Ever wondered what makes a good "Buyers Market?" and if timing really matters? I'm here to fill you in, the secrets even chatGPT can't give you...
SIX REASONS Buying now is worth it
#1
TIMING
February is a month where most listings have sat all winter and these Sellers are TIRED. They want a buyer, and they want one yesterday. This means we are at a time for peak negotiations, saving you big money on the price, maybe even the Seller paying your closing costs-- or BOTH.
-- I had a Buyer this winter score $40,000 to pay his closing costs, AND renovate a kitchen and bathroom for him, all paid for by the Seller.
-- A new family with a brand new baby was able to buy their entire home for $1000, using a down payment grant and the Seller paying their closing costs. A THOUSAND DOLLARS.
Once we hit the 'Selling Season' (April - July) this window of opportunity vanishes into thin air, often overnight. Timing is your best friend in this process!
#2
NO COMPETITION
This is one of the biggest factors leading to your success in saving money. You see, when no Buyers are out, the Seller HAS to deal with you, they don't have a choice if they want to sell. But the second more Buyers are on the scene, we have to compete with them to get a yes from the Seller, meaning we often can't ask for much or anything at all, sometimes you even need to pay MORE than the listing price just to secure the property. February is a time with little to no competition (YET!)
#3
TAX RETURN FUNDS
February is when we start thinking about tax time, and this is a great time to make that tax return work in your favor. Remember the new family who bought their home for $1000? This could be you too if you utilize your tax return smartly.
#4
PROGRAMS
There are numerous down payment programs out there to help you get 2%, 3% of the purchase price to pay your down payment, OR even grants to pay the whole thing! We got access to a very cool Zero Down program last year, and it has been insanely amazing for Buyers who just don't have their down payment saved. Learn more by booking a call with me
#5
INTEREST RATE
In January, we saw the interest rate drop to the lowest point since 2022, to 5.99%. This is huge. Interest rate is one of the fastest ways you can lower your overall monthly payment (I have some other tricks with taxes and HOAs, so we won't forget those either!) This is a small window of opportunity in the market where the competition is low, but so are the interest rates. Perfect time to capitalize before Buyers come out of the wood work and we lose all that negotiation power!
#6
TAX BENEFITS
Buying a home has huge tax benefits; Not only can you write off a lot of the home buying process and fees you incur there, you also get to write off your mortgage interest, mortgage insurance and any points cost! This is a great way to earn more back next year!
