Less Competition – Moving over the holidays can be a challenge, it can prove to be somewhat of a headache not forgetting the cold and unpleasant weather in many areas. This can work in your favor if you are motivated enough to find your perfect home for a great price. While taking that into account, this tends to mean less competition when submitting an offer, whilst people are still looking at homes fewer are taking action. So you stand a better chance of getting a great deal. The median home value in Hagerstown MD is: $155,171 so why not take a look and see what you can get you may surprised!
Lower Prices – Due to the reasons listed above December tends to have lower home prices. In Washington County, MD the number of homes sold fell 3.2 percent, from 154 in November of last year to 149 this year. This is great for a buyer as it shows that there is less competition currently on the market, whether that trend is set to continue throughout and to the end of December is still yet to be known, why not ask one of our Coldwell Banker Realtors about the current market trend in your area of interest?
Motivated Agents – With fewer properties on the market real estate agents are dealing with fewer clients, this means that they will have even more time to devote to you. Plus, they can help you negotiate a great price on a home just at the right time. Take a look at a previous blog about how to pick the perfect agent here
Better Interest Rates – Interest rates are still at historical lows, the average rate on a 30- year fixed mortgage has been under 4% for the majority of the last five months. This time last year analysts were calling for interest rates in the mid 4’s or even 5% and they were ‘dead wrong’ according to the mortgage report website. The question is will this rate hold through December and beyond? The Fed just raised rates and is likely to d so again in early 2018.
Seasonal Sales – Seasonal sales could be a great time to furnish your newly found property, grab some great bargains that will help provide you with a personal touch! Be careful not to spend yourself into debt that you may struggle to repay especially when buying a new home.
Motivated Sellers – Sellers do not enjoy moving over the festive period anymore than buyers do, but it is possible that they are highly motivated to move. As an agent I see a lot of expired listings in December, so if you are looking at buying a property this time of year why not ask your agent to take a look at some expired listings for you. That seller will generally be motivated to sell their property and a good chance of opening up negotiation talks if you find a home that did not previously sell. There are hundreds of expired listings across Hagerstown and Frederick so make sure to explore all your options.