Jeni VanOrnum | Real Estate Insights & Education

As 2024 approaches its final quarter, strategic opportunities emerge. I’m Jeni VanOrnum, your Douglas County real estate agent, sharing year-end strategies for buying your first home in 2024.

Year-End Market Dynamics

Fall and early winter traditionally bring less buyer competition in Douglas County. Inventory remains steady, but fewer active buyers mean reduced pressure and better negotiating positions for first-time homebuyers willing to house hunt during holidays.

Tax Advantages of 2024 Closing

Closing before December 31, 2024 allows you to deduct mortgage interest and property taxes on your 2024 tax return. Even one month of ownership can provide hundreds in deductions. This benefit is particularly valuable for higher-income first-time buyers.

Lender Year-End Goals

Mortgage lenders often have year-end quotas, potentially leading to competitive rate offers and expedited processing in November-December. Shop multiple lenders during this period—you might find better deals than earlier in the year.

Seller Motivation Peaks

Sellers listing homes during holidays are typically highly motivated. Whether relocating for jobs starting in January, dealing with financial pressures, or managing life changes, these sellers often accept reasonable offers quickly and negotiate favorably.

Rate Lock Strategies

If you’re pre-approved, consider locking rates if favorable opportunities arise. While predicting rate movements is impossible, locking a good rate in Q4 2024 protects you if rates increase in early 2025.

New Construction Considerations

Builders often offer year-end incentives to close deals before December 31st. In Douglas County’s growing communities, you might find rate buydowns, upgraded features, or closing cost assistance on new construction homes.

Planning for 2025

If you’re not ready to close in 2024, use the final quarter to prepare for early 2025 purchases. Improve credit scores, save additional down payment funds, and research neighborhoods so you’re ready when spring inventory increases.

Start Your Year-End Search

Ready to close on your first Douglas County home before year-end? Contact Jeni VanOrnum today for a strategic plan.