There's no better time than Spring-time to begin your home search and here's why:
Springtime is the right time to buy a house when there is more inventory on the market, sometimes this drives down prices ⬇️. It’s the law of “supply and demand”, for example, let's say there are 100 homes on the market and only 50 buyers, then the sellers who have to sell need to make their home attractive to buyers. This usually means pricing it as low as they can to attract buyers.
Easter House Hunting
Home sellers tend to re-list homes that weren't sold during the fall and holiday seasons and try again in the early spring. With this inventory and the homes that haven’t been on the market yet, it's more choices resulting in more sellers competing for aggressive pricing.
Besides Christmas, this is one of the most wonderful time of the year. In many parts of the U.S., the emergence of bulb flowers announces that spring is here, but in the Valley of the Sun, it's the smell of the orange, grapefruit, lemon and lime trees that make this season so special. There's nothing quite like stepping outside your own home, in the middle of March and taking in a deep breath in the morning or nighttime when the citrus trees are in bloom and the sweet fragrance of citrus flowers fills the air for weeks at a time.
Springtime is Tax Refund Time
If you are some of the lucky Americans that get a tax refund, what better way to use this money than to invest in a home of your own. Down payment is one of the biggest obstacles for prospective first-time buyers to purchase a home but during tax season, many taxpayers have more funds than any other time of year. So there is no better time to qualify for a new home! Quite often a tax refund may actually cover the whole down payment on a home purchase. Additionally, there are several programs that do not even require a down payment. Even though down payment may not be required, assets help the strength of the borrower and tax refunds may be used as assets or down payment right away.
Interest Rates are Expected to Rise
The Federal Reserve is the government body who oversees interest rates. They slashed them to 0.00% in 2008 at the beginning of the Great Recession, however, it took them until 2015 to raise them a little, then they did a little more in 2016, and twice in 2017. As the economy improves, the interest rates will rise. So with this pending trend, you can expect interest rates to continue increasing in 2018. This means you only be able to afford less house for the same amount of monthly payment. If you want to "geek out", here is an article on www.MortgageReports.com that explains the cost of rising interest rates in detail.
Rental Rates Increasing
If you are a renter, consider this: homeownership has perks that you can't get from renting, such as financial security and stability, tax deductions and a vehicle for retirement savings. Each mortgage payment gets you closer to fully owning the home and the equity accumulation can be leveraged for loans like cash-out refinances, home equity loans and lines of credit that can be used to improve the home and boost its value or be used in financial emergencies. Interest rates are at historic lows, home prices are still low, and rental rates are high. So if you are looking for an unbiased assessment of whether its right for you to buy or not or if you've decided that you're ready to move and Springtime is the right time for you, you might be asking...
1) Schedule a time that works for you
2) Meet us for coffee, drink, or tea - whatever fits your style.
3) We'll provide you with an in-depth, strategic buyer book on how the process works.
4) We can recommend a lender for you to consult. While we certainly recommend that you shop around for the best rate, we highly recommend that you contact one of our preferred lenders to get pre-approved.
5) If everything points to buying a home, we will be happy to guide you through that process and strategize how to help your reach your housing goals.
Homes in Fountain Hills, Scottsdale, Cave Creek, and Metro Phoenix Arizona has all four se...