4 Reasons to Buy a Home in December

by Gary and Lisa Schoeffler on December 4, 2014

in Latest News

Another Thanksgiving Day has come and gone, and year-end holidays are almost here.  Most home buyers are preoccupied with their traditional holiday to-do lists, like party planning and gift shopping. However, did you know that, historically, home prices are lower in December than any other month?  If you’ve been thinking about buying a home, this month may be the time to start shopping.

1.  Less competition, potential for lower price

Most people think spring and summer are the best times to buy a house.  They want to get their kids settled into new schools before the start of a new school year. Unfortunately, the warmer season and timing generates a seller’s market, and creates more of a disadvantage for the buyer.

Buying a house when most people are focused on the demands of the holidays, gives you the advantage through less competition, creating a better opportunity for a lower price.

In addition, sellers who list their homes during the holiday months are serious about selling their homes.  This also creates opportunity for a savvy buyer to get a discounted price on a great home.

2.   Sellers are motivated

Sellers know there will be a lot fewer serious buyers during the month of December.  In addition, if they are able to sell their home before the end of the year, they’ll receive a tax deduction.  This window of opportunity creates great leverage for the buyer, and generates motivated sellers. Motivated sellers will to be more willing to negotiate, and typically become more flexible on terms and price.  

 3.   Tax deduction

Buying a house and closing before the end of the year may give you a tax deduction. There’s a good chance you’ll be able to subtract the interest component of the initial mortgage payment from that year’s taxable income. To know for sure, talk with a qualified tax advisor.

4.  Lenders are motivated

Interest rates drop every December through January on a cyclical basis.

Since there are fewer housing transactions in the month of December, there are also fewer requests for mortgages. This materializes into favorable mortgage terms for you — another great reason why it’s the best time to buy a house.

Lenders can offer you a low interest rate, and exclude some fees in order to get your business.  Be sure to shop around, both online and in your area, to try and get the best rate and terms possible.

The holiday season may seem like an inconvenient time to shop for, and purchase a home.  But, for the savvy home buyer, it may be the best time of the year.

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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