As we start the new year many new year’s resolutions go by the wayside. Buying a home is one resolution you should KEEP, and the sooner the better. Here are some of the reasons why NOW is a great time to buy in the Reno-Sparks market.
At the end of December 2017 there were only 637 active single family home listings. As of January 2, 2019 there are 1,077. That’s a whopping 69.07% more homes for sale. This means more choices for home buyers. It means there may be less competition and fewer multiple offer situations. It also means sellers may be more willing to negotiate with you.
Around September we saw interest rates rise up into the very high 4% and in come cases low 5% range. Around the middle of November rates started to come back down a bit, back into the 4.5% range. How long will this last? With rates predicted to go up in 2019 why not take advantage of this dip NOW.
NEGOTIATE BETTER TERMS
With more homes for sale, many sellers are on the market longer and many are facing price reductions. This provides opportunities for buyers to possibly get a better price, closing cost concessions or other favorable terms. It also means fewer multiple offer situations.
If your new year’s resolution includes buying a home the Shocket Team can help you get the process started right away and help you take advantage of what may be a small window of opportunity for buyers. Reno-SparksRealEstate.com