While you may think it's crazy to tackle the huge task of home buying during the schedule-jammed holiday season; Lake and Town Realty feels the holidays are actually a great time to find real estate deals in today's new economy.
Here are some Top reasons the 2009 holiday season promises to be filled with better-than-usual home bargains:
Economy has boosted many sellers' motivation to sell.
With unemployment rates still high and looming holiday expenses, many home sellers are extremely motivated to sell immediately and are more willing to negotiate a lower home price. Properties that are on the market over the holiday season usually have very serious sellers.
Interest rates are at an all-time low
Interest rates and home prices are at all-time lows. If we look historically at interest rates, cyclically we've seen drops every December through January
Housing market appears to have reached a floor through the June to September
fewer transactions mean faster closings. November and December are historically slower months in the mortgage business, so things get done faster!!!
Prices are greatly depressed and inventory is plentiful.
With many people busy gift shopping, traveling and entertaining, November and December are traditionally slow for real estate. On-the-ball buyers can take advantage of that fact and find less competition for the most desirable homes.
The holiday season is a particularly good time for first-time homebuyers to find a home.
First Time Home Buyer Tax credit.
Now Great Tax Benefits For Existing Home Buyers
$6,500 for qualified move-up/repeat home buyers (existing home owners)
Tax Deduction
Most settlement costs paid to the mortgage company, lender or broker are tax-deductible in the year in which you pay them. If you close on or before Dec. 31, you may be able to deduct the interest on your first monthly mortgage payment from your taxable income. You may be able to deduct points paid to reduce your interest rate as well
Share your success story with others during this Holiday Season...so someone else can help their client have a special Holiday Season too!!!
Compass Real Estate Group
Residential Real Estate
Property Management
Internet Marketing
15245 Waterfront Dr. Huntersville, NC
(704) 625-0708 (Office)
(704) 625-0860 (efax)
www.mycompassrealestate.com
