To everything there is a season, so the song says. It also says to “turn, turn, turn”. When shopping for real estate does that mean waiting until winter turns to spring to begin your search? Traditionally, people are more likely to get out and shop when the weather is nice. It is a more pleasant time of year, and properties look better when not covered in snow. Yet there are some very logical and compelling reasons for going shopping for a house this winter.
In a perfect world, we would all dictate when we move and when we buy a house. But, very often other circumstances can emerge and force us to sell, buy and move during any month of the year. One thing to keep in mind is that a winter move is not the worst thing that can happen. In fact, here are some reasons to embrace a move this winter. You could benefit from a house hunt that begins with snow on the ground.
Fewer Buyers to Compete With
You will be a step ahead of other buyers who are waiting until spring to begin their shopping. Thanks to this long standing bit of real estate advice, there will be fewer buyers in competition during the winter months. It's simple economics - the low demand will work in your favour. So for the investor looking to swoop in for a good deal, the winter can be prime time.
Prices Will Be Lower
When you have fewer buyers in the market, supply exceeds demand. This usually results in prices will being lower than during the hot season.
Sellers Will Be Motivated
Lower activity in the winter could result in sellers being more motivated to sell. Some sellers may be more willing to negotiate, whether it is on selling price, closing costs, closing date or even terms of the sale; ie: what household appliances and items are included in the sale. For these very reasons, many real estate agents recommend that their clients delay listing their homes until the spring.
These listing may be on the market out of necessity. Waiting until spring to sell may not be an option. Often a job offer has dictated a winter move, or the seller may have personal issues that are driving his/her actions - financial woes, divorce, etc. Regardless of the reason, this may work to the buyer's advantage as the seller will be very motivated.
Fewer Chances That There Will Be Multiple Offers on the House You Want
Another reason that winter can be such a buyer's market for real estate is that the fewer number of buyers competing for homes means that the chances of there being multiple offers on a single property are greatly reduced. This again translates to buyers having the upper hand over sellers in the negotiations.
Your Real Estate Agent Will Work Harder for You
Quieter winter months also mean that you will have the undivided attention of your realtor, and he or she will be working harder for you. These lean months of low sales volume encourage realtors to try just that little bit harder to negotiate a sale.
So why not take advantage of our mild winter temperatures, throw on your boots and call Alison, to your house hunt started. 204-930-4402 (firstname.lastname@example.org)