Why the Holidays can be a good time to buy.

Why the Holidays Can Be A Good Time to Buy a Home.

Written by: Chelsy Vaughn Martin

If you've been considering buying a home recently, maybe you should add that to your Christmas list. I spoke with Ken Vaughn of The Vaughn Group at RE/MAX Results in Fort Wayne today about why the holidays can be a good time to buy a home.

1. Fewer Buyers

Right now the people interested in buying tend to be more motivated. "People have goals in mind. Some of them want to buy a house by the end of the year and others want a house to start the new year out." says Ken. "There are few buyers out right now and potentially a better opportunity to make a better buy." Ken has been in real estate for over 34 years and knows real estate like the back of his hand. "I'm good at what I do, and I don't say that arrogantly. I love what I do." Our listings on Realtor.com are already receiving less views than in previous months, a sign of a slowing market. Fewer buyers means that there is a reduced chance of multiple offers and bidding wars. This could mean a better buy for you!

2. Eager Sellers

"Another advantage is that some sellers become more motivated at this time year because the market slows down," says Ken. This means that sellers will likely be more willing to negotiate on terms that would have been out of the question for them before the holidays. Sellers may want to sell before the end of the year for tax purposes as well.

3. Greater Affordability

During the month of December, home prices are lower than any other time of year. You can see by looking at the average list price on Zillow Market Reports that the list price is typically the lowest in the month of December. With interest rates and home prices predicted to rise in 2014, this makes now a great time to buy. According to the National Association of Realtors, 30-year fixed mortgage rates are to hit 5.4% by the end of 2014. Home prices are expected to increase an average of 3-5% in 2014.

4. Quicker Mortgage Approval

I asked Greg Thomas at Ruoff Mortgage if it is generally faster to get approved this time of year because of less people trying to buy. "We can get deals done in three weeks this time of year," Greg told me. "The rest of the year, it takes on average weeks to get deals done."

So there you have it. Adding a house to your Christmas wish list could be a great opportunity for you this year. If you have any questions, or comments, let us know. Call/text or email Ken at 260.413.9416 or ken@fwhomz.com, or call/text or email me at 260.403.8236 or chelsyvm@fwhomz.com.

One last thing, leave me some comments down below, I want to know what you guys think of my blog. Give me some feedback, ask questions if you want and let me know what real estate topic you'd like to have me blog about next!