Originally posted on http://time.com/money/4213128/best-time-to-buy-home/ Home sales tend to rise along with the temperature. According to Realtor.com, 50% of homes are sold in summer. But if you want to get the best deal—and avoid a bidding war—your odds are best when the weather turns colder and the days grow short, says Lawrence Yun, chief economist for the National Association of Realtors. Year after year, closings in January tend to show a dip in prices, suggesting that buyers who made offers in November and December got the best deals, he says. In the summer of 2014, for example, median home prices climbed past $220,000, only to drop below $200,000 in January of 2015. Median home prices nearly hit $240,000 the following summer, only to move down again in the late fall. “Some of this is driven by the types of houses that sell in the winter months,” says Yun. Families with school-age kids often account for larger, pricier homes, and they prefer to buy in the summer when kids are out of school. Knowing this, many sellers don’t list their homes later in the year, and many pull their listings in the late fall in hopes of starting fresh in the spring. Sellers who stick with it, theory goes, are the most motivated. (Note: A RealtyTrac analysis of home sales over the past 15 years pegged October as the best month to buy at a discount, 2.6% less than the fair market value at that time.) To be sure, buyers who shop later in the year may be able to negotiate a better price, but there is a possible tradeoff—less selection. That’s because inventory of homes for sale typically starts to decline in September, Yun says, with the biggest dip around the holidays. Historically, it drops 10% in December, with little improvement in January. “Inventory begins to measurably increase in the spring,” he says. “Over the last four years it looks like a 10% jump in inventory from March to April.” Certainly, there are markets that defy these trends. Winter destinations, for example, often see a surge of activity in the late fall and winter, as snowbirds and tourists hit the open house circuit. Similarly, demand for smaller homes and condos tends to be relatively steady throughout the year, says Yun, because buyers and sellers typically aren’t beholden to school calendars. It’s important to know your market’s quirks. In the end, however, the best time to buy a house really depends on what makes the most sense for your situation. No seasonal discount is worth rushing into a decision, paying a higher interest rate, or buying the wrong house. By Sarah Max June 2,...

Originally posted on https://www.daveramsey.com/blog/3-month-plan-to-sell-home-in-spring Are you planning to sell your home next year? If so, here’s a little secret: You don’t have to wait until spring is in the air to get your home ready for prime time. We asked Dawn Kirkland, a real estate Endorsed Local Provider (ELP) in Birmingham, Alabama, how homeowners can make the most of the months leading up to a spring home sale. Gain an edge on the competition with these steps. As Soon as Possible Interview Real Estate Agents: Finding the right real estate agent  isn’t a one-and-done process. That’s why the sooner you start, the better. Don’t waste your time on someone who only sells a handful of homes a year. You need a pro who inspires you with confidence and has a proven track record for getting top dollar for homes. Look for a high-octane agent who closes a minimum of 35 home transactions per year and has at least four years of real estate experience. Make a Plan: Once you have a partner, you need a plan. Before you roll up your sleeves and get to work, Dawn suggests making a list of all your to-dos. This enables you to break the process down into bite-sized chunks so you don’t feel overwhelmed. Work with your agent to set priorities, then focus on knocking out one task at a time. Start Packing: This is where the going gets tough. It’s time to part with your stuff—but only for a little while. Take a look around and decide what you can live without until your home sells. Rent a storage unit if you have to. Just pack it up and get it out so you can make room for buyers. Here’s an added bonus: The rest of the work will be much easier with less stuff clogging your corners! 2–3 Months Before Listing Uncover Issues: Want to beat buyers to the punch list? Get a pre-sale home inspection. Of course, your buyer’s home inspector will still find things that need to be done. But being proactive enables you to identify potential deal breakers so you can adjust your timeline and budget accordingly. “If you need to deal with something really profound, it may change some of the other things you’ve got to do,” Dawn says. Tackle Repairs: With your home inspection report in hand, work with your real estate agent to prioritize the findings. Just keep these wise words in mind: “It’s always less expensive to repair or replace something up front than to wait for the buyer to ask for that in inspection requests,” Dawn advises. This is especially true for major fixes like a new roof or HVAC unit. “That’s the kind of stuff that scares people to death. They’ll ask...

Originally posted on https://www.moneytips.com/top-5-reasons-to-buy-a-home-during-the-holidays Why it Makes Sense to Buy a Home at Year’s End   Few people like to uproot their family and go through the stresses of home buying and moving during the holidays, but for those who do not mind, the holiday season may provide home buying bargains. Here are a few of the reasons why. Less Market Activity – Lots of family, school, and work activities, combined with the weather in many locations, lead to fewer real estate transactions over the holidays. Since fewer people overall are looking to buy houses, you will have less competition for your preferred house – and this gives you leverage.  Holiday home sellers often have to adjust their price downward or make other concessions if they want to sell. Keep this in mind as you search for homes. Bargains may be available, and listed prices may be more open to negotiation. Motivated Sellers – People who are selling their homes over the holidays often have great incentive to sell, such as an upcoming job relocation. If a house has already been on the market for some time, that incentive is multiplied. You may be able to use this urgency to your advantage (assuming you are not in a similarly urgent need to buy). Negotiate fairly but firmly with sellers and you should be able to extract a lower price and/or other concessions like paying part of the closing costs. Potential Tax Advantages – If you itemize your taxes, you can deduct any points you paid upon closing, as well as property taxes and mortgage interest. Whether it is to your advantage to buy before or after year’s end depends on factors such as how many other deductions you have this year and expect to have next year. It is best to consult with a tax professional before purchase. Even though you do not want to make a decision on a home purchase strictly for tax reasons, it could be to your benefit to close before the end of the year. Better Interest Rates – Within the general trend of interest rates, there is often a cyclical trend of lower interest rates during the holidays – not from the generosity of lenders but due to limited demand forcing greater competition among lenders. There are plenty of factors that can obscure or swamp this cycle, but in general, you should see preferable interest rates around the holidays compared to the times immediately before or after. Faster Closings – Generally, all parties involved have incentive to complete transactions toward the end of the year. Lenders want to close their books, real estate agents want to receive their commissions before the year closes, sellers want to move on to their new home and settle in for...