Since the U.S. housing crash in 2008, the country’s real estate industry has bounced back well. For perspective, if you bought a property during the lowest point of the housing crisis, whether it’s a two-bedroom house in Rockport, Texas or a studio unit in a New York condominium, by now your property value would have appreciated by at least 25 percent.
This means your $200,000 home can rake in roughly $250,000 if you decide to list it on the current housing market.
Real estate prognosis is positive as well. That means homes for sale in Rockport or any other location will consistently be in demand for the coming years. That is a testament to people’s regained confidence in the market. Still, timing is crucial. Rockport Properties, Inc. explains how you can determine if it’s a good time to invest.
The Best and Worst Months
Forty percent of the entire income of first-time homebuyers goes to mortgage payments. This is a hefty sum and it is only fitting for those looking to invest in a new home to find ways to get the best deal out there.
January happens to be the best month for home buyers. Usually, properties sold within this month have been on the market for at least twelve weeks. Given how real estate prices depreciate the longer a property stays listed, the month of January allows home buyers more room to haggle or negotiate.
June is not the best time to look for a house, as the median sales price for houses reaches their peak and listed properties sell the fastest during this month. This limits home buyers’ freedom in terms of negotiating prices.
The Best Day
Signing a deal on Christmas day could be the best gift you could give yourself. During this time, the competition is low, if not non-existent. You’ll be the only buyer out there. People are more generous on this day, even agents and home sellers. Any property listed at this time of year must go and chances are you can have it on your best terms.
Buying a house is all about timing. If you know when to strike the deal, your investment will be more than worth it.