3 Reasons NOT to Wait Until Spring to Buy a Home

3 Reasons NOT to Wait Until Spring to Buy a Home 

Though spring-time is one of the busiest home buying seasons, there’s actually quite a few benefits to selling in the winter time. Here’s 3 reasons not to wait until spring to sell your home.

1.) Less Competition: The good thing about buying a home during the wintertime is that there are typically fewer home buyers to compete against compared to the peak spring housing market. With less competition, home prices are generally lower in the winter time.

2.) More Flexible Sellers:  Because the market tends to slow down in the winter, many sellers also hold off on listing their homes unless they absolutely have to and are typically more open to striking a deal. So typically homes on the market tend to be sellers that have urgency to sell. Either their being relocated or possible going through a divorce, they have a genuine motivation to sell, and may be more negotiable when it comes to accepting your offer.

3.) Quicker Closings: Since the mortgage and title companies tend to be less busy in the winter, you’ll be able to take advantage of a quicker and likely smoother closing, which will put keys in your hand sooner than expected. You may even get a better deal on closing costs. Because there’s less buyers in the winter, loan offices may be more likely to fight for your business because they too are slow. Which means even more savings for you.

If you’re in the market to buy a home in Phoenix this winter, please contact the Voss Team today! We have the reputation, experience and local knowledge you need to find the right property and you’ll receive the personal attention you deserve while navigating the real estate process!

Roberta Voss
The Voss Team
RE/MAX Professionals
20241 N 67th Ave A1
Glendale, AZ 85308
(602)-697-0730

thevossteam.com
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Sales Increase Despite Record Prices and Sinking Inventory

Sales Increase Despite Record Prices and Sinking Inventory

July home sales rose 1.8 percent year-over-year, making it the second month of 2018 to post a sales increase year-over-year, according to the RE/MAX National Housing Report. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

In the July 2018 report, 37 of the report’s 54 metro areas posted sales increases over July 2017—April was the first month of 2018 where more homes were sold than the same month in 2017. The report also marks the 28th consecutive month of year-over-year price increases.

The Median Sales Price of $250,575 was up 4.4 percent from July 2017, and represents the third-highest price in report history—topped only by May and June of this year. Months Supply of Inventory was at 2.9 – the smallest total ever recorded for July.

Forty-two of the 54 metro areas reported a year-over-year drop in inventory. The Days on Market dropped to 41 – four days less than July 2017 and one day under the previous nine-year low set in June 2018.

“Because we’ve faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead,” said RE/MAX CEO Adam Contos. “It could level affordability to some extent and create more opportunity for buyers who’ve been priced out of hot markets.”

The average Days on Market for homes sold in July 2018 was 41, down one day from the average in June 2018, and down 4 days from the July 2017 average. The number of homes for sale in July 2018 was down 0.3 percent from June 2018, and down 7.8 percent from July 2017. Based on the rate of home sales in July, the Months Supply of Inventory increased to 2.9 from 2.7 in June 2018, and decreased from 3.1 in July 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In July 2018, all but one of 54 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market.

Want to know more? Click here to download your copy of the July 2018 RE/MAX National Housing Report. If you are looking to sell your Phoenix home or are ready to buy a home in Phoenix and the surrounding areas, please contact The Voss Team today.

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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