Home buying during the holiday season
Nov 21 2011 4:45PM
With low mortgage rate and home prices, there is no question that it is a buyer's market. Fox Business reports that applicants may run into more obstacles when buying during the holiday season, but a move-in date before the first of the year isn't completely out of the question.
The housing market is typically less active during the holiday which sometimes motivates sellers to drop prices lower or accept offers more quickly. Amir Korangy, publisher of The Real Deal magazine, told Fox that buying a home during the holidays can offer a better deal. Buyers would just have to deal with moving in the winter weather and having less of a variety to choose from, as there are less listings during this time of year.
It is important for buyers to remember that purchasing a home should not be rushed, and move-in dates should not revolve around a holiday deadline, advises Frances Katzen, managing director of Prudential Douglas Elliman, a real estate firm in New York City.
Buyers should still invest in having the home inspected, and keep in mind that workers will most likely have time off for the holidays. Fox also suggests that buyers should have a go-getter mentality while remembering that the home buying process requires a lot of detailed documents.
