Now is the Best Time to Buy a Home...
Have you wondered if there is a better time or season to buy a home? For the most part the Omaha areas real estate sales slow down in the winter months and sellers will be more open to offers they may not have considered in the spring or summer markets.
The summer is the time most people will purchase a new home. This means that the sellers can increase prices a little, and/or be less willing to negotiate as much. Sometimes your situation will not let you choose what time of year you want to purchase your home, and in those cases you may have to purchase when the market is a little stronger.
In our market December-February tend to be the slowest months of the year for real estate. During these months, buyers have more leverage than usual, and can ask the seller to come off the asking price by a larger amount and have a greater chance of the offer being accepted.
Keep in mind that when you are trying to figure out when the best time of year to sell your home that most of you will be buying a new home and taking out a mortgage on that property. If you decide to wait 6 months until the time of the year is usually better for your specific area that mortgage interest rates will change during this time you wait also. Interest rates have been holding at extremely low rate but there is always the chance that you may end up having to accept a much higher interest rate by waiting to sell your home and buy a new one. So making an extra 5 or 10k from the sale of your home and accepting an interest rate that is considerably higher because you waited to put your home on the market may end up costing you more in the long run.
For all of your real estate questions contact Tasha Moss of the Omaha Real Estate Group at 402.612.6693 or email Tasha@OmahaREG.com.