1. Homes show well during the holidays. Decorations draw a positive emotional response from most people.
2. Many people have use it or lose it vacation during the last 2 months of the year. It’s a great time for them to look at homes.
3. Many people have to buy by the end of the year for tax purposes.
4. Although there may not be as many buyers in the market, those that are out are serious. It only takes one buyer to buy a home!
5. Good interest rates, good financing programs, limited inventory. It’s a great time for buyers to buy.
6. Conversely, in the near future, FHA loan limits will decrease, making it harder to get a higher loan amount with a lower down payment. Mortgage insurance will increase next year, which will increase the rate of an FHA buyer, which will lower their amount of buying ability.
7. If you wait until the spring market, which traditionally begins in January, you will have more competition as more houses will come on the market.
8. The longer you wait for more short sales, REOs and foreclosures to settle, the better chance you have of having appraisal issues when you do sell your home.
9. The end of the year is the biggest transfer time for corporate relocation.
10. Post-election moves are happening right now in the DC area. There will be more buyers looking for homes within the next few months.