Selling and Buying in the Winter Months
Ok the weather outside may be frightful, freezing temps, your snuggling up with hot cocoa and in front of the fireplace, the winter season provides an opportune time for serious buyers and dedicated sellers to find a new home. Does it make sense to put your home on the market to sell and also then to start going out looking at homes in the cold, sometimes early dark evenings, along with snow covered lawns, driveways, and streets full of slush. The answer is YES !
Since spring and summer are usually the more active months in real estate market, many say that we should just wait until spring to list. But remember high inventories in spring, more buyers with multiple offer situations. Also with the process taking anywhere from 2-4 months in your search, inspection, appraisal and possible occupancy you would be moving in the late spring or early summer.
Winter is a buyer’s market generally with fewer number of buyers looking at homes. Many sellers need to sell even in winter months with job relocating across state or country and they can’t wait until spring or summer to sell and they may have shorter deadlines to get the home sold quickly. This is were it is advantageous to the buyer with the interest rates being at there lowest in years, and sellers who need to move and not wait around. Also appraisers and inspectors are typically less busy and more likely to give greater personal attention to the smaller pool of buyers in the cold winter months.
With a smaller selection of homes in the winter months can actually save you a lot of time, rather than traipsing thru 40 or more homes and you can now narrow it down quicker, with the many multiple photo’s available of homes interior views. The short list of buyers looking in the winter, now give you more time to make a smart decision. Whereas during the prime real estate season, you would worry about another buyer snatching a house away from you, or the home having multiple offers on the table.
Buying a home in the winter gives you a seasonal perspective. Is the heating system functioning correctly, cold drafts from windows and doors, frost on window and ledges? Real estate agents will have more time to focus on your search for a new home. Some lenders, and movers might even lower there fees and cost during the winter months since this time of year is slower in closings and inventory.
So don’t hold back, be the first to get your home on the market, buyers who are looking in the winter months are very serious buyers. It’s a win win situation for both the seller and the buyer. Call Century 21 Town & Country today to get the snow ball rolling.