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The holidays give you the perfect occasion to buy real estate. Not only can you pick up a bargain property from a motivated seller, you can save on your purchase expenses.
- Home shoppers put off looking for a home because of holiday decorating, shopping, and parties. Plus, the cold weather makes home buyers prefer to stay home; they wait for warm weather to buy real estate. Get the edge with little competition from other buyers.
- Home sellers who didn’t sell during the recent buying frenzy are worried that their home will not sell. Any seller offering their home for sale during the holiday season is motivated.
- Real estate agents need to keep their momentum going and can’t afford to take too much time off. When the agents aren’t as busy, you get better service. Plus, they’re more likely to take low offers seriously. gents love investors ready to buy real estate during December.
- Interest rates continue to creep up. Who knows what the rates will rise to next year?
- Lenders threaten to tighten up qualifications next year. Last summer, loan officers were able to get through almost any loan. Today is your best shot to buy real estate and get a great rate with the easiest qualifications.
- Appraisers need work. Too many individuals became real estate appraisers when there was too much work. It used to take a week or more to schedule an appraisal. We just ordered an appraisal and the appraiser wanted to come out the same afternoon! Also, appraisal fees cost less today than last month.
Clear some time from your busy holiday schedule and go find a bargain house or apartment building. Make many offers. You won’t get this break for another year.
Bill Manassero is the founder/top dog at “The Old Dawg’s REI Network,” a blog, newsletter and podcast for seniors and retirees that teaches the art of real estate investing. His personal real estate investing goal, which will be chronicled at olddawgsreinetwork.com, is to own/control 1,000 units/doors in the next 6 years. Prior to that, Bill and his family lived in Haiti as missionaries serving orphaned, abandoned and at risk children.
