December 05, 2013 /24-7PressRelease/
-- Recently, residential real estate activity in California has slowed somewhat. According to Property Radar, California home and condo sales dropped 16.8 percent from August to September, which is not entirely unusual as the volume of residential real estate sales usually drops in the fall and winter.
While sales are down, the upcoming holiday season could actually be an attractive time to act if you are looking to make a real estate purchase
in Santa Cruz. December can mean less market competition and a quicker process.
Fewer buyers submitting offers can mean savings for you
Property Radar reports that California home sales were down slightly in September 2013 compared to 2012, mostly due to a steep decline in distressed sales -- short sales and the sales of lender-owned real estate. Distressed property sales dropped 47.7 percent compared to last year, while standard sales rose by 40.2 percent. As a result, home values have steadily risen, as willing sellers are more able to entertain multiple offers and hold out for higher prices. According to forecasts from the California Association of Realtors, home prices are expected to continue to rise in 2014.
One potential way to get ahead of rising home prices is to consider a residential real estate purchase during the holidays. You may be thinking that given the stress the holidays put on your personal schedule, the last hassle you want to shoulder is buying a new home. Well, the key to getting a good deal on real estate in December is that everyone else is having the same thought.
Sellers who put a home on the market over the holidays are more likely to need to complete a sale quickly. There are also fewer buyers competing in the marketplace. This can mean faster negotiations, and sometime even more willingness from a seller to accept a lower offer. As an added bonus, with fewer residential real estate transactions taking place during the holiday season, mortgage providers are also less busy and may even reduce their fees.
Call a real estate lawyer for legal help with your transaction
The holidays can be an attractive time to enter the real estate market in Santa Cruz, particularly for first-time homebuyers
looking to maximize value. While a realtor can help buyers navigate the process of searching for an ideal home, a realtor may not be equipped to handle the entire transaction effectively, particularly if the same realtor represents both the seller and the buyer.
A real estate purchase and sales lawyer has professional responsibilities to watch out for your best interests, and can help you smooth out any wrinkles that may arise in the home buying process. Legal help can be instrumental in ensuring that you get expedient, favorable results in your real estate transaction. Contact a Santa Cruz real estate lawyer to learn more about how an attorney can help you buy a home while market conditions are favorable.
Article provided by Timothy J Morgan Attorney at Law
Visit us at www.timothyjmorgan.com