Real estate sector is a key player in the economy and it is currently doing well. Sales of homes are increasing compared to the previous years. The prices of houses are going up with the latest study showing an increase with a percentage of 4.6% in August compared to one year ago. This was the largest annual increase recorded in over six years. With this, many people are considering making a comeback in the real estate sector both as sellers and buyers. With this a smooth consumption of financial resources is ensured, the financial markets are taken deeper, and the degree of market discipline is increased. Buying of houses has been made easier by taking mortgages. A mortgage can be defined as an agreement made between a financing company and a purchaser of a property. Terms of the agreement in a mortgage are defined to spell out the state of transfer of a clear title to the buyer derived by the financing company; payments over time by the buyer are made through installments.
However there are times and seasons when houses are best sold and when the buyers are willing to buy houses.
January is the best month to make an offer on a house. Not many buyers are willing to look for houses when the climate is foul during the cold season. There is less bidding in cold seasons hence less competition. Sellers are also additionally motivated in summer than they are in spring. A decision to sell property during winter is risking at a time when the business is quite low.
Spring is the best time of the year to sell a house since the buyers have tax refunds during this season and with this money in the banks, they are willing to pay for the properties in full. This explains why most people move in the summer
Why People don’t move when the school is on
People with families like to move in when there is a break in the school calendar so that they are not forced to pull their children out of class and with this, they get proper time to prepare and settle before school resumes. It in during spring and summer where schools take breaks and in warm spring and summer seasons it is easier to move than in cold winter seasons.
Selling of property during festive season is a little hard as people have tight budgets and they might be experiencing financial insecurity with their credit cards indicating a lot of expenses incurred during the festive seasons
Buyers tend to pay little attention to properties listed during weddings since a lot of attention is paid on wedding planning and wedding expenses.
Many times, capital inflows are associated with rising rates of growth of the real estate industry especially in the developing countries, some of them also experience sporadic falls in rates of growth and major financial crises with a substantial macroeconomic and communal costs.