Is Real Estate on Your Christmas List?

On December 22, 2011, in Uncategorized, by David Monsour

Holidays always involve lots of purchases whether it be that ugly Christmas sweater or a new gaming system.  Rare is the holiday where you go real estate shopping because contrary to popular believe Realtors do have lives outside of work.  Seriously I have a life but I did take a call on Thanksgiving at 3 PM.  I question who in their right mind would make that phone call but hey I guess it happens.  Okay so you’re not shopping on Christmas day and maybe not the day before or the day after but the holiday season isn’t a bad time to be shopping for real estate.

There are a lot of reasons to shop in the winter months.  Normally not many buyers are shopping over the next few weeks but this year it has turned out to be a very busy season.  Realtors, in recent memory, usually default to interest rates and prices as the prime reasons to buy.  Those factors are still a strong influence.  We also need to consider the value available with distressed properties.   Most foreclosure and short sale properties are selling at about 30% under market value.  In the winter demand for these properties is a bit lower so the deals can potentially be a little better.

My advice is to keep real estate on your Christmas list.  Keep your eye on those deals and be ready when the right one comes available.   The deals are there for the active buyers in the market.

 

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