While driving to the home improvement store Saturday before the 4th of July, we noticed that the usual "Open House" signs were missing. The real estate offices were closed. No real estate agent wants to work on the 4th of July holiday week. In fact, earlier in the week, I called two real estate agents about listing a property and another agent about a home we wanted to see. They all put me off until July 5th! However, these are the conditions that mean real estate investors can pick up a deal. Home shoppers put off looking for a home because of holiday decorating, shopping, and parties. Plus, the hot weather makes home buyers prefer to stay home. Investors can take advantage with little competition from other buyers. Other reasons why now is the time to buy real estate: Motivated Sellers Home sellers who didn't sell during the recent buying frenzy are worried that their home will not sell. Any seller offering their home for sale during the holiday season is motivated. Affordability Interest rates continue to creep up. Who knows what the rates will rise to next month? Qualifying Lenders threaten to tighten up qualifications. Last summer, loan officers were able to get through almost any loan. Today may be your best shot to buy real estate and get a decent rate with the easiest qualifications. Easy Escrow or Closing Title insurance agents, closing agents and appraisers are not as busy. Appraisers need work. Too many people became real estate appraisers when there was too much work. It used to take a week or more to schedule an appraisal. We just ordered an appraisal and the appraiser wanted to come out the same afternoon! Also, appraisal fees cost less today than last month. Clear some time from your busy holiday schedule and go find a bargain house. Make many offers. You won't get this break until Labor Day Weekend. Copyright 2006 Jeanette J. Fisher |
