All of the pundits have been pushing the “historically low rates” and this “is the best time to buy in years” for what seems like two years to me.  I’m hear to tell you that NOW is finally the best time to buy.  Here’s why.

There are a number of things pointing to this being the crest of the time to buy.

Some are obvious.  Yes, rates are lower than they have ever been.  While this seems like it’s a good thing for buyers, it has led to another issue for buyers.  The combination of low rates and low prices has opened the door for many people that haven’t been able to be a part of the market in the past to now be able to buy homes.  Adding this supply of buyers saturating the purchase market is that fact that even though many home values have leveled off, several sellers are still underwater with their mortgage and cannot sell or feel like they need to recover more value before they can sell.  Large supply of buyers and smaller supply of houses is causing a transition into a sellers’ market for the people that can afford to sell.  Buying ahead of this rush will prevent potential bidding wars and help to secure the best price possible for the house.

Why buy in the fall?  Nine years in a row my busiest time of the year for purchases has been October through December.  The large lot of people selling wait until school is back in session, vacation season is over, yet want to be finished with their house sale before the holiday season or want to start the New Year in a fresh location.  Almost half of my business occurs in these three months.  If you’re interested in being a home owner, don’t stand on the sidelines while the other buyer’s take advantage of the most aggressive time of year for sellers.

How about the need to make sure there are no hidden surprises?  This is the safest time to buy in terms of being able to see what the home truly looks like.  With a New England winter soon to set in, home roofs and landscaping will be covered in snow.  Last winter may have been mild but two years ago we didn’t see the ground for over three months.  Getting ahead of that to be able to see landscaping, paved driveways, etc. can prevent costly surprises in the spring.

If you want to make sure you are part of this buying season you need two things.  You need to get your financing in order and contact us for your mortgage pre-approval.  Knowing your financial options is paramount.  Second, you need a professional real estate agent on your side.  Too often people want to contact the seller’s agent directly or just search on their own.  Professionals can tell you what specific markets look like, areas with a high or low percentage of price cuts, and ratios of sales to asking prices.  This is all part of the effort of helping you negotiate the best price for a house.  Once we have your pre-approval done, ask us who the best real estate agent will be for you.  We would be happy to put you in touch with the best person to help you, your family, and your friends achieve their dreams of home ownership.