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Welcome to my Real Estate advice column, “Dear Don,” where I answer all your burning Real Estate questions. Send yours to me at donkoonce@windermere.com, and I’ll try to answer them in future columns.
Dear Don:
When is the best time to buy?
Pondering Paul
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Dear Pondering Paul:
This will be different for every buyer, but the short answer is when you need a house.
Time of Year
If you buy in fall or winter, there may be more inventory and sellers may be more open to negotiating on the price. There will probably be more selection in the spring, and summer but there also will be more competition from other buyers.
Interest Rates
It makes sense to buy when interest rates are low, because that allows you to buy more house than could afford with higher rates.
Market Fluctuations
No one can predict what will happen with prices, but in the Seattle area, so far, they tend to keep increasing overall. There may be times when prices drop, but they have historically recovered at some point and exceed the previous high. The important thing here is to be sure that you can afford the payments through any downturn that may happen.
I hope that helps!
Warmly,
Don
Are you ready to take the plunge into the Real Estate market? Don’t do it alone. My mission is to help you achieve your life goals. Contact me today at 206-250-7291 or donkoonce@windermere.com.
