#usda loans

March was such a blessing. It was my biggest month since returning to mortgage production. After spending the past decade in mortgage operations, not many people were willing to give me the opportunity to jump back into originating.

In fact I applied with more than a dozen mortgage lenders in South Mississippi and interviewed with a number. At the end of the day only Garrett Dobbs with Private Mortgage Advisors was the only person willing to give me an opportunity.

Six months in I am loving everyday of being back in production. This past month I was blessed to help 13 families achieve the dream of a owning a new home.

In the six months since returning to production, I have been honored to assist 27 families become new home owners. Many of these were first time home buyers, active servicemen and disabled vets.

Spend Christmas in your new home!

1. Less Competition

One of the most significant benefits of buying a home in the 4th quarter is reduced competition. As the year winds down, many potential buyers take a break from house hunting due to holiday distractions or the desire to wait for the new year. This drop in demand often results in fewer bidding wars and more negotiating power for buyers, giving you a better chance of securing your dream home at a favorable price.

2. Motivated Sellers

Sellers who list their homes during the last few months of the year are often more motivated. They may be eager to close before the holidays or before the end of the tax year. This motivation can lead to more flexibility in negotiations, whether it's price, closing costs, or even including furniture and appliances in the sale. If you’re willing to look at homes that have been on the market longer, you might find sellers who are particularly eager to make a deal.

3. Year-End Tax Benefits

Purchasing a home before the end of the year can also yield significant tax benefits. Homebuyers can potentially deduct mortgage interest and property taxes from their taxable income, which can be especially beneficial if the purchase is completed by December 31st. This timing allows new homeowners to take advantage of these deductions in their tax filings for that year, providing potential savings.

4. Seasonal Pricing Trends

Historically, home prices can dip during the winter months. Many buyers believe that spring and summer are the best times to sell, leading to price adjustments as sellers try to attract buyers in the slower season. If you’re in the market during the 4th quarter, you may find more favorable pricing, particularly for homes that have been on the market for a while.

5. Time for Reflection and Planning

Buying a home is not just a financial decision; it’s also an emotional one. The 4th quarter often provides an opportunity for reflection as the year comes to a close. With the holiday spirit in the air, it’s a perfect time to envision your future in a new home, think about your family's needs, and plan for the upcoming year. This reflective mindset can help you make a more informed and thoughtful choice.

6. Favorable Interest Rates

The end of the year may also see more favorable interest rates as lenders look to meet year-end goals. By taking advantage of competitive rates, buyers can secure better financing options, resulting in lower monthly payments over the life of the loan.

Conclusion

In conclusion, while many people overlook the 4th quarter as a prime time for home buying, it presents unique advantages. From reduced competition and motivated sellers to potential tax benefits and favorable pricing, the last months of the year can be an excellent opportunity for homebuyers. If you're considering a home purchase, don’t underestimate the potential benefits of making your move before the year ends.

Contact me today to begin your homebuying journey.

Lanny Mixon - NMLS# 2450250

312 Hemphill St.

Hattiesburg, MS 39401

601-336-6862

[email protected]