I hear rumbling from real estate agents that sales have slowed down recently. Historically this happens in an election year, regardless of whom is running for office. The media has convinced people that they should be concerned about the future. As a result the whole nation holds its breath until after November 7th. The collective pause gives an opportunity for those looking to buy a new home.
This collective uncertainty gives buyers the advantage of writing offers without competition. It takes someone who is willing to make a counter-intuitive move to see the advantage and act upon it fast. I say fast because this is a very short window of time and swift action can save thousands of dollars for the buyer.
The Santa Barbara Multiple Listing Service reported sales of over five homes a day selling last month and this month it has dropped to just four a day. Not a huge drop in volume but enough that a motivated buyer and motivated seller could come to terms quickly. Acting now can create a win-win outcome for both parties.
With interest rates still low and down payment requirements extremely low (in same cases as low as 3%) this opportunity won’t last long. Call your real estate professional today so you can get in on the savings FAST.