Tis The Season To Buy A New Home! As the holiday season approach, many potential buyers should have a new home on Santa’s wish list. We all are looking for great holiday deals. Well … Here are:
1. LOW Interest Rates: Interest rates and prices are at all-time record lows. Historically, interest rates are usually at their lowest during November through January due to the slowdown in the market.
2. Motivated Sellers: Many sellers are motivated to sell their homes before the end of the year for tax purposes. As a buyer, you will have even more negotiating power to get a great deal!
3. Slower Market: With the buzz of the holiday, many people are traveling and busy gift shopping. Typically, November and December are the slowest real estate months. Savvy buyers will have less competition and be able to scoop up a great bargain from motivated sellers.
4. Faster Closings: During this slow holiday period for real estate, lenders are NOT inundated with many deals to close. As a result, your mortgage will receive more attention and be able to get done faster. This will lead to less headaches and receiving the keys to your dream home more quickly! Bank foreclosures are also easier to purchase during the holidays as there are less competing buyers.
5. Tax Deductions: Many closing costs and taxes are tax deductible during the year that you close on your home. Speak with your accountant. You may be able to deduct the interest on your first mortgage payment from your taxable income. Also, you may be able to deduct the points paid on buying down your mortgage rate.
It’s the most wonderful time of the year to go out and buy a home! If you are serious about buying a property in the near future, NOW may be the best time to get the ultimate holiday deal. I promise that you won’t have to sleep overnight for Real Estate Black Friday!
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If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.