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When Should I Buy This Year
Hello, hello, hello to all my buyers out there! New year, new goals and maybe a new kick in the butt you were waiting for to get on the home buying band wagon!
It is only 4 days into the new year and I can already see an influx of buyers searching online, looking for their next step to make their dream of owning a home a reality this year! I am getting a lot of questions about the market, and the big question is "When"???
My answer is always NOW...Not because I want to pressure you, but because it is TRUE! Let me give you 2 major thoughts to chew on:
1) Interest Rates: Interest rates went up a lot last year as we know. As of today, they have come down to October 2018 average. Good news for you, buyers, because that means your buying power went up! Low interest rates, means you can afford more. That said, I highly doubt the interest rates will ever go back to the 3% range. Based on local and national data and predictions - we are looking at increases through this year and beyond. So my question to you is "Why wait?"
2) Seasonality: Spring market in Frederick has historically started March 1st. We see a ton of new listings hit the market and then we see a ton of buyers come out of the wood work - and let me tell you: they are making decisions quickly. It has been a feeding frenzy March - mid June in years passed. I don't see why it would be any different this year. So again, my question is "Why wait?". You will have more to choose from inventory-wise..sure...but that doesn't mean you are going to find your dream home and close on it. You will likely be in competition and have to make decisions very quickly if you want to close the deal.
That said. I help my clients buy and sell homes year round. Timing is everything and the decision is ultimately yours on when you should seriously start the process of buying your biggest asset. If you aren't ready to buy tomorrow - that's okay! But talking to lenders and getting your buyer's agent in line NOW will save you for when you are ready to take the leap.
Find your lender, find your buyer's agent (ahem..me!) - and together we will find your home in 2019!
Written by: Kat Royer
Welcome Home Realty Group
Kat Royer is a graduate of Virginia Tech with a Bachelor’s degree in Hospitality and Tourism Management and minor in Real Estate. She worked for 7 years in operations and sales for a major internat....
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