This regularly-scheduled sponsored Q&A column is written by Adam Gallegos, Arlington-based real estate broker, voted one of Arlington Magazine’s Best Realtors of 2013 & 2014. Please submit your questions via email.
Q. We are planning to buy some time this coming year. It’s kind of our 2015 goal. We are in a month-to-month lease so we have some flexibility on timing. When is the best time to buy in your opinion?
A. I get this question a lot. As I have explained before, when supply is higher so (usually) is demand. Therefore, you are not going to gain a lot of advantage trying to time the market based on seasonality.
Right now seems like a pretty great time to buy in my opinion. Here are five reasons why:
- Buying at the beginning of the year allows you to take advantage of more interest tax deductions than if you buy towards the end of the year. Double check with your accountant on this.
- Interest rates are as good now as you could possibly hope for. I guess you could get lucky and they will drop another fraction of a point, but not enough where it is worth not buying now.
- This is the slowest time of year for real estate agents, mortgage officers, settlement attorneys, home inspectors, movers, etc.. Therefore, it is a great time for you to get their undivided attention.
- While other home buyers are distracted by the holidays, you could be in a great position to negotiate a better deal or find a hot property before someone else does.
- The second half of 2014 was lackluster for the real estate market. Homes continued to sell, but not in a fashion that created significant price appreciation. This is good for you as a home buyer. However, from what we are experiencing in our office and from talking to other brokers, a wave of new buyers are putting plans in place to buy in 2015. In other words, based our small sample, I anticipate strong buyer activity going in to the new year.
Have a fun, safe NYE! Please keep the questions coming in 2015. You can send them to [email protected].
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
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🎉 Tonight, we invite you to the French Riviera, one of the most exciting places on earth – without ever boarding a plane! And celebrate Mardi Gras and the Carnival of Nice on French soil as we welcome you to a special evening at the Embassy of France!
From the elegance of classical French culture to the most celebrated Rivera nightlife of the 21st Century, experience a special evening of fantastic French food, wine, music, and ambiance.
Enjoy the flavors of Nice, Monaco, and St. Tropez in the beautiful and festive Maison Francaise at the French Embassy.
🍽️ On the Menu: Delicious French food
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General Membership Meeting
Rev. Cozy E. Bailey, Sr.
Cody Chance and Dick Nathan of Long & Foster are hosting a free workshop on the topic of “down-sizing” at their office on Cherry Hill Rd. (formerly Lee Highway) in Arlington on Thursday, February 29 from 5:30PM-7:00PM.
Every great endeavor