5 Reasons to Continue House Hunting This Winter

Winter Homes For Sale May Equal Good Buys

Winter Homes For Sale May Equal Good Buys

Winter months typically bring a lull in real estate sales, but this can be an ideal time for homebuyers. In fact, there are several benefits to being an off-season homebuyer.

Less competition. Even hot markets see a decline in buyers during the winter. This can mean fewer multiple-offer situations and more time to present your strongest offer.

Motivated sellers. Sellers who list during winter months are often highly driven to sell. And fewer buyers means fewer offers, so sellers may be willing to make extra concessions to close the deal.

Potentially faster closings. Mortgage brokers, inspectors, and other professionals involved in the deal may help you get to the closing table sooner since they’ll be dealing with fewer transactions this time of year.

A chance to see how the home performs. Systems such as the heater, insulation, and plumbing are put to the test when the temperature drops, and you’ll be able to witness how they handle winter stress.

If you’re thinking about starting or continuing your house hunt during the winter, ask your Texas REALTOR® about the benefits of purchasing a home at the end of the year, including tax write-offs for homeowners. You may decide that it’s worth donning those mittens after all.

Credit ReportTime to repair some credit issues. 

If you’re thinking of buying property, you’ll probably apply for a mortgage. But before lenders decide what they’re willing to offer you, they’ll want some financial background, such as your employment history, salary, bank-account balances, and your credit history.

Know your status before a lender does – While you could wait to find out how your financial picture appears to lenders after they’ve decided whether to loan you money, you’d be better off finding out first. One way is to request a free credit report so you can see what a lender might see.

What is a credit report? A credit report shows how much you borrow, whether you pay on time, or if you’ve been sued or declared bankruptcy. A credit report is not the same as a credit score. It usually costs money to find out what your credit score is, and can vary depending on the source you obtain it from.

How do you get a free credit report?  You can request one free credit report every 12 months from each of the three major consumer credit-reporting agencies: Equifax, Experian and TransUnion. But you don’t have to get all three reports at once. Obtaining one report at time, like quarterly, can help you monitor changes and is a good way to find out if you’ve become a victim of identity theft.

How does your credit report help you buy a house? A credit report gives you insights into your financial habits. For example, you’ll see how well you do at paying debts on time and if you tend to borrow within your means. Checking your credit report now also gives you a chance to find errors, which you can correct before they affect your ability to qualify for a mortgage loan. And if you find legitimate flaws, you might be able to take steps to improve your credit standing before purchasing a property.

Ask your Texas REALTOR ® for help with the mortgage loan process, and see if he or she may be able to help you find resources to repair your credit if necessary.
For all your Montgomery County Real Estate Needs contact the Michelle Wheeler Team
Wayne Stroman, Broker
Lake-Conroe-Realtors.com TREC Lic. 0416282
Call the Property Desk at 936-588-7004
Sales Office: 14500 HWY 105 W, Conroe, Texas 77304
Mail to: PO Box 2991, Conroe, Texas 77305
Sales: 936-588-4444
Fax: 936-588-4884

Listing and Sales Agent

Michelle Wheeler
Lake Conroe Area Team Leader

Real Estate Listing and Sales

Wayne Stroman
Lake-Conroe-Realtors.com Broker

 

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