September Month is Best Month for New Home Buyers Why?

Home and land Buyers who are willing to close on a home purchase during the off-peak seasons – like fall and winter – tend to have the upper-hand in exacting, is the best month (September) of this year to sign an agreement to purchase a home, according to his analysis.

For one thing, supply is increasing, given that home buyers with more choices of homes for sale than they have had in the past ten months. In the third week of August, list was at 1.91 million units, an increase from 21 % since January.

Normally record peaks in August and begins to slow as the nights grow longer. But this year the typical seasonal decline will start a bit later. There will be more choices in September than any other month in 2015.

Also, that overall demand is down now that the school year has started so buyers will provide less heavy competition this month (September) too. And, of course, with less competition for the most listings all year, price powers weaken as inventory takes longer to sell.

As an added motivation to home buyers, mortgage rates are left over low, for now. The 30-year fixed-rate mortgage ended the week under 4 % due to Recent Stock Market turbulence. In June, 30-year rates were averaging 4.2 %, but have since fallen.

Sale Your Home to Your Family Members Use This Tips

I am getting ready to sell my house, and my brother wants to buy it. It was going to be listed at $400,000. I still want to get as much as I can for it, but I also feel like I should give her a deal. Can you give some tips way we can make this work for us both?

There is a lot to consider when you go enter into any kind of financial transactions with a relative. It could be useful, but it could also be ugly. On the positive side, if you sell to your brother, you won't need the services of a real estate agent. That means you did save 3% to 5% on the agent's charge.

You would save that charge if you sell it straight to your brother," said certified financial planner with Directional Wealth Management in Peninsula. You also avoid having to get ready your home for showings, be out of your home for showing and having a bunch of stranger going through your home for showing.

He said a fast deal, which is more possible with a family sale, will most likely save you some property taxes and home and land owner insurance. But there are also some real cons to having a family member buy your home. The first thing to do is make sure your brother can have enough money to buy the house and succeed for the mortgage.

Then be ready to deal with possible issues with your home that come up in the inspection, certified financial planner with Directional Wealth Management in Peninsula said. Believe the potential crash of a main home repair issue arise after the sale.

To finish, he said, selling without full market contact always entails a risk of selling for less than market value. That is because full market exposure is the only way to know what the present demand calls for.

How to Minimize the Potential for Problems 

First, contact at least two local real estate agents and request a broker price opinion, which is what they think your home is worth. Then you can think reducing the price you give your brother by what the sales commission would have been, and even by the property taxes and cover you will save, McCarthy said.

Consider purchasing a home service contract which McCarthy said could help address potential house inspection issues or those post-closing major issues.

Remain you may owe a real estate transfer tax. And lastly, McCarthy said, you should still use a real estate lawyer to make sure the sale is complete correctly. If you are planning to move out of state, you should also be aware that some us states require an exit tax, too.