It was surprising to see home builders reporting a profit despite the stagnation in the industry. Home prices have started to rise, with no depreciating effect on sales. House prices increased in August last year by 4.6 percent, becoming the largest annual increase in more than six-years.
With the onset of the New Year, more and more Americans have been encouraged by the rising real estate and people have decided to jump in to either buy or sell.
However, the fact remains that not many people know the ideal times to carry out real estate dealings. The following tips help to portray a better understanding on this matter:
Best Time for Buying
The Ideal Month to Make an Offer: January remains the best month for those seeking to buy a house. This is due to the fact that less people are willing to tackle the cold, unforgiving weather and venture out into the open. This results in far less competition than usual; sellers are also much more motivated than the time when they are thronged by lots of people.
The Ideal Day to Make an Offer: The best day to make an offer on a house is the first Tuesday of the month. You may be wondering why this is so; the person selling the house will have written a mortgage check for the particular house he wants to get rid of. As to why Tuesday is the best day, the homeowner will also start to get anxious about not receiving offers from those people who saw the house during the weekend.
Best Time for Selling
The Ideal Day for Selling: Thursday is the best day for those who are interested in putting up their house for sale. This becomes more evident during a seller’s market. Listing a house for sale on Thursday makes it available for viewing over the weekend and attracts more people, as compared to on a weekday.
The Ideal Time to Stop Renting or Buying: The time when a person should stop renting or buying a house is when the cost of renting a house exceeds that of buying one. This can be calculated by finding two comparable houses, with one being available for rent and one for sale, then dividing the price of the first house by the annual rent of the second house.
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