‘Tis the Season to Buy a New Home

We’ve all been told the same thing: winter is the worst time for real estate. Though there are several advantages to buying a home in the warmer months (it’s easier to move!), there are definitely advantages to buying your home this time of year.

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Interest Rates:
On December 14, 2016, the Federal Reserve raised interest rates and hinted that they would continue to through 2017. This means interest rates today are most likely lower than they will be for the foreseeable future. Buyers are incentivized to get a mortgage at a lower rate now than a potentially higher rate later this spring.

Average Days on the Market:
Historically the average days on the market increases during the winter months. Take a look at the current average days on the market in Berks County. During this time of year, buyers are more willing to negotiate to sell their house.

Predictions for 2017:
Home prices are expected to rise 4% in 2017. This could mean the difference of thousands of dollars more that you’ll pay if you wait until later in the year to make a purchase.

See the Truth in the Cold:
According to Realtor.com, seeing a house in the winter can tell you a lot about the property. You’ll be able to more easily assess how well the house is built and get a sense for what to expect when living in the house. Plus, if you fall in love with a house when it’s set against a grey, damp winter day, most likely you’ll love it throughout the year.

Are you ready to think about buying a house this winter?

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