Thursday, November 03, 2005

The holiday slowdown

The holiday slow-down is upon us. Agents everywhere are gearing up to disappear, until spring at least. Even though, there are plenty of properties for sale. Some, looking for a fast sale before the Xmas lights come out.

So sellers want to sell but where are the buyers? Mortgage rates are up and continue to rise, prices are holding steady, but sales are beginning to slow. Partly because of the seasonal change and partly because interest rates are locking buyers out of the market.

If you are looking to buy, this might be a good time for you really ramp up your house hunting and offer writing. Sometimes in real estate, you have to jump on opportunities as they come about, because, when they do – they don’t stick around long.

Look at this time as an opportunity, one that will fade. Right now, there aren’t as many buyers clamoring for bid positions. So if you have been on the cusp of getting offers accepted, now is a time to re-evaluate your potential properties and start writing offers. Sellers with one good offer on the table in the “off season” are happier then waiting out the season with no offers at all. If your neighbor wants to sell quick, offer a short escrow period. There are ways to get into homeownership during this seasonal slowdown that might be easier than if you wait until spring.

If you want help locating properties in Southern California, as always, feel free to call on me. Some agents don’t work during the season, I work a little harder. Especially for my loyal clients who can’t seem to get in on the peak season.

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