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There is an old saying from Roman statesman, Lucius Annaeus Seneca, that “luck is a matter of preparation meeting opportunity.”
Are you prepared for the moment when your perfect house becomes available? The best way to be prepared is to be fully pre-approved for mortgage financing. I am not talking about a “pre qualification” where you have a 10 minute phone call with someone who asks how much you make, how much you have in the bank, and how you think your credit is, and then punches some numbers in a calculator and spits out a monthly payment you might be able to afford. Nor is it typing some numbers into your iPad screen and taking a shot at the moon to have a website tell you how much you can afford.
Cooler weather, beautiful changing leaves, and hiking season at its peak makes fall a perfect time to be in the Hudson Valley. This is also one of the best times to purchase a new home! Rhinebeck Bank has the Best Reasons to buy your home this season.
My husband and I recently started looking for a home. It’s a great learning experience whether you’re buying a first home or a new home!
Majority of home shopping and home buying take place in spring and summer, however, there are some benefits to buying a house during the winter months. Here are five reasons to buy a home in winter.
1. Motivated sellers
Anyone who is willing to pack up and move in the dead of winter must really need (or want) to get out. This could help you leverage your negotiations on selling price and closing costs, and could potentially up the odds of the seller leaving some personal items behind in the sale!
Unless you have purchased a newly constructed home there is always some uncertainty regarding previous “events” in a home. Historically, real estate transactions were based on “Caveat Emptor” (Let the buyer beware). Over time, however, certain exceptions have been established by New York courts that help protect buyers by increasing a seller’s risk of liability for undisclosed defects.
(Not when working on your down payment and closing costs!)
Hopefully the vast majority of prospective home buyers know that they do not need a large down payment to purchase a home. There are a variety of low down payment programs including a few 100% financing options. But even with low down payment options many borrowers still need some help. One way to help is through the use of “Gift Funds”.
Last month I discussed whether it was a “great time to list your home?” I commented on the lack of inventory coupled with high demand for housing and the dilemma of those factors not forcing an increase in home values. We posed the question of why the law of supply and demand didn’t seem to be in affect in our area.
The law of supply and demand is in full swing in the housing market on both a national and local level. Nationally, the Pending Home Sale Index (PHSI) for January 2017 reached its lowest level in a year* and tight inventory is the prime culprit.
Locally, the housing market has seen a steady increase in housing sales. According to the Mid Hudson Multiple Listing Service, the 12 month average for “Closed Sales” of single family detached homes, is up 16.3%. The average for “Pending Sales” is up 19.5%. Conversely, the 12 month average of “New Listings” has decreased by 10.2%. While the lack of new listings has not affected the local market in amount of sales taking place, it has had an impact on sales prices.
There are so many ads on TV enticing you to come in and lease that new car for $199 per month or that new truck for $349 per month, how can that be?
Well, just look at the fine print.
Let’s face it; The Weather Channel© has changed all of our lives. We watch live minute to minute updates of weather patterns and storm fronts. Experts try and predict events for the next half hour to the next 10 days, to years in the future. They consider longer term cause and effect (El Niño comes to mind) to try and identify what type of seasonal weather we will have. We need the forecasts to help us plan our day, month, and season. Do we bring an umbrella today? Do we buy a new snow blower? When should I plant the tomatoes?
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