This BLOG On Buying House During Off-Season Fall And Winter Markets Was Written By Alex Carlucci of Gustan Cho Associates
You might have heard that there is not much of a supply of homes in the $100,000 to $300,000 range.
- This has caused a frenzy when a house in this price range comes available
- There are always multiple offers and the house often sells for more than asking price
- This is done with what is called highest and best offer due tomorrow
- Highest and best is for you to guess what everybody else is offering and be a little bit higher
- This has been very frustrating for all buyers
In this article, we will cover and discuss the advantages of buying a house during the off-season fall market.
Advantages Of Buying House During Winter
The good news is summer is almost over and there are many advantages to buying a house in the fall.
- First rates tend to drop in the fall
- Most of the buyers are done or tired from trying
- Sellers may be more desperate to sell getting the buyers lower prices
- There is more inventory in buying a house during offseason
- Sellers are often more willing to negotiate when they are selling their home during offseason
Mortgage Rates With Buying House During Off-Season
Rates drop for many reasons in the fall.
- One of the reasons is the demand for the rates have dropped due to the busy period being over
- Second is the fiscal year is over in October in the business world
- Investors tend to sell their stock either to mark the profits for the year
- Or mark the losses to deduct on their tax returns
- In the past when the stock market falls rates get better because investors take their money out of stocks and put it into bonds
- When investors buy bonds that drives interest rates down
Buying House For Buyers With Families
Buyers are tired or done tying to buy is because a lot of purchases are made by families with children:
- They want to close by the beginning of the school year
- This is so the kids can start school at the beginning of the school year versus in the middle of the school year
- Or they have been so discouraged by losing out on the bidding wars during the busy spring and summer housing markets
So now that the buyers are tired or done the seller’s market will now turn into a buyers market. So sellers will sell for less than asking. So for these 3 reasons it may be a perfect time for you to buy your dream home at a reasonable price. So go shopping.
About The Author
Alexander Thomas Carlucci who goes by Alex Carlucci is the author of this blog on Buying House During Off Season. Alex Carlucci is a senior vice president of Gustan Cho Associates Mortgage Group at Loan Cabin Inc. Alex Carlucci and Gustan Cho Associates Mortgage Group at Loan Cabin Inc. has a national reputation of being able to close loans other lenders cannot due to its no lender overlays business model.
Here is an excerpt by Alex Carlucci:
A little about me. I have been doing mortgages for 21 years. I started in 1997. I have seen everything. I am raising an orphan child who just lost his mother to cancer. His father left his mother before she was born. I have a heart. When you deal with me I fight for you loan as if it were my own. I care and will always give impeccable service. I answer my phone all the time and I know almost everything there is to know in this business. It is impossible to know everything due to the complexity and constant changing of rules, but I try my hardest to stay on top of this crazy business that I call my career.
So if your credit is bad, you’ve been in a bankruptcy or even a foreclosure I am the person to call. When other loan officers tell you they cant help you don’t be discourage. Reach out to Gustan Cho and Associates and I promise you will have a great experience. Just look at Gustan Cho’s Zillow Reviews. That is an insane amount of 5 star reviews. Need I say more. I hope to hear from you soon.