It’s hard to believe that 2014 is almost coming to a close. While the warmer months tend to be the busier seasons in the real estate industry, this blog will detail why you should make December a busy season for the real estate industry and buy a home before the end of 2014.
Lower Prices and Rates
Maybe it’s because of the weather; or maybe it’s because of the busy holiday season, but December is recorded as the month where home prices are the lowest compared to all of the other months. According to Yahoo! Homes, home prices in 2015 are expected to increase almost half their current pace to 3%! According to the same source, mortgage rates are also supposed to increase by 5% in 2015.
Lower Tax Bill
Along with lower prices and lower rates, you’ll also get a lower tax bill if you close before December 31st. Some of the deductions that you can get before that date include:
- Mortgage interest
- Property taxes
- Points on your loan
- Interest costs
Easier Moving Assistance
If the real estate industry is busiest during the warmer months, it’s very likely that the moving companies are just as swamped. According to realtor.com, a moving company could take six weeks or more to schedule during those times. However, if you want to move during the holidays it’s likely you’ll be able to get one on a shorter notice, and maybe even benefit from a special holiday deal!
Since there is less competition around this time, sellers are more likely to accept a lower offer. Also, if they’re listing around this time, chances are they want to apply the same tax savings that you’ll receive on your home to their new home.
If this blog has you motivated to buy your new home before December 31st, make sure you stop by our featured listings and request a showing today on one of our beautiful homes for sale today. Also, if you’re a first time home buyer and you have more questions about the process, be sure to stop by our YouTube Page and visit our First-Time Homebuyer Video Series where we’ll answer a number of questions that you might have about the home buying process.
Happy Home Buying!
Your #1 Pittsburgh Real Estate Resource
I pride myself on being your number one resource with everything ranging from Pittsburgh Real Estate to DIY home projects to tips about painting for the first time like this blog post. Don’t hesitate to contact me if you have any questions or need any more advice on listing your Pittsburgh home.
Until Next Time,