Somewhere down the line real estate got a reputation of really only being a ‘spring through early fall’ job. Whether people seem to be put off by incriment weather, the chaos of the holidays, or are just simply not motivated, selling in the winter can actually be a good thing. Real estate doesn’t stop during the winter and neither should you.
As I mentioned before winter seems to scare people off, therefore, whether you are house hunting or trying to sell your home there is much less competition. Remember the scary spring and summer markets? Competing against 15 other offers, waiving home inspections, spilling your guts in letters to the homeowners about why you would be the ‘best people’ to own their home. In the winter market there is hardly any of that. Sure, there may be less inventory to boot, but there are still new homes coming on every day and because you are motivated you will get the first look at all of them.
This goes for all parties involved. If a seller is still marketing their home through the holidays and the snow storms you can take this to mean that they are extremely motivated to sell. What could this mean for a buyer? It COULD mean that they are willing entertain offers that may be lower than the list price. Loan officers and attorneys with less on their place during a winter lull might also be moviated for a quicker closing date.
Waiting May Cost You Money
Waiting for the magical spring market may not only mean an increase in home prices as predicted, but may also mean interest rates to go up. Don’t keep waiting – lock in those rates while you can.
Think of it this way: if you buy a home in the winter you can move in and be settled in for spring and summer to enjoy yourself (maybe with a new pool or deck??) instead of having to worry about moving. Remember real estate doesn’t hibernate!