There are great advantages to being in the market during the winter
Every year, people ask me, ‘is it worth the trouble to be in the market during the fall and winter?’ The answer is an astounding yes! Both buyers and sellers can benefit from being in the market this time of year, and particularly so for the advantages that this current market has to offer.
Here’s an advantage for buyers – less competition and only serious sellers
Real Estate sells all year round, but consumer activity comes in waves. The odds for a cold weather buyer are – you are less likely to be engaged in a bidding war for a home you find during the winter than you would be during the summer. Added to this, you know you have a motivated seller if they are willing to keep their home on the market through less than favorable weather conditions. Investors also benefit greatly from less competition, and this is a golden opportunity for them to make bids on holdovers that didn’t sell during the last summer wave. Another advantage is the weather. It’s sometimes difficult to determine the resilience a home has to endure the elements with clear skies and no storms. The best time to inspect a home is during bad weather, to see how the home holds up to the elements. If there’s a leak in the roof, it’s easier to find in the rain of course. Likewise, it’s easier to pinpoint drafts, moisture problems, and other issues that are more prone to be found when the weather is less than favorable. Likewise, when searching for unimproved land or acreage, if you want to know whether or not a property floods, this is potentially the time to find out.
Also for Sellers – less competition, and only serious buyers
So what do sellers have to benefit from during this time of year? Buyers that are actively looking during the winter are serious about finding and purchasing a home soon – particularly before the weather conditions become even more challenging. Every year, there’s a buyer wave to be settled before the Holidays. Secondly, inventory will slightly reduce over the winter, opening the opportunity for a sale with less competition. For some owners that want to sell, what’s important to them is not just a matter of selling the home, but also a matter of planning when to move, dressing the home with the most appeal for the most money, and other factors that all categorize their interests for being ‘fair weather’ sellers. But for those who are willing to hang in there through the elements, you will benefit from a smaller – select group of buyers that are more determined to buy and get settled.
Having a knowledgeable broker is especially important during this time
As we pondered some common challenges and advantages that this time of year brings to the home buying and selling experience, be most mindful of who is helping you navigate through them effectively. It pays to have knowledgeable people helping you realize your goals and dreams, while advising you on how to tackle what would otherwise be some daunting issues. An experienced broker will be a great resource for buying or selling a home – and be a great resource for referring you to inspectors, contractors, surveyors, engineers, specialty contractors, insurance agents, and more. I’m here to help fill that role, or to just answer questions if you’re in need.