Buying Real Estate in the Winter
If you're looking to buy a home, but think that the winter months mean a slow housing market, you're right. If you think that you can't find a home in a slow winter market, however, you're very wrong. Even in seller's markets, the winter season can offer some relief to serious buyers. House hunting in the winter offers a less crowded market for buyers, and less competition tends to mean better prices. In fact, the market slows by as much as 50% in the winter months, so you may be able to find a significant deal in these few months. Other reasons to buy in the winter include:
Less "Fishers" - Often times, the sellers who don't truly need to sell will pull their properties off the market. These are the homes that have sat overpriced on the market for months, or even sometimes, years. These sellers tend to be difficult to work with, since they're willing to wait for the one buyer that is willing to pay over fair market value for their home. These "fishers" know that the winter months will bring bargain buyers, so they often take a break. More Serious Sellers - What this really means is that the sellers in the winter markets are actually quite serious. They need to sell quickly and understand that buyers are looking for deals. They may be selling due to divorce, a death in the family, or a career change. For whatever reason they're selling though, they're trying to get out quick. Better Selection of Agents - Since the market has slowed down you'll be able to find yourself expert service that you may not have found in the busier summer seasons. Experienced, successful agents will be looking for serious buyers, since their incomes are also feeling the slow down as well. Lenders are Less Busy - You may not think having a dedicated and timely lender is important; unless you've been slowed down multiple times by one. Lenders are slammed in the summer months, trying to churn out as many loans as possible. While this is great for business, lenders often overbook themselves and can't keep up. Buying in the low season can be much easier, since inspectors, lenders, appraisers and other Denver real estate agents tend to not only be at your service, but actively looking for buyers, and even possibly more willing to negotiate on their prices, interest rates and commissions.
Less "Fishers" - Often times, the sellers who don't truly need to sell will pull their properties off the market. These are the homes that have sat overpriced on the market for months, or even sometimes, years. These sellers tend to be difficult to work with, since they're willing to wait for the one buyer that is willing to pay over fair market value for their home. These "fishers" know that the winter months will bring bargain buyers, so they often take a break. More Serious Sellers - What this really means is that the sellers in the winter markets are actually quite serious. They need to sell quickly and understand that buyers are looking for deals. They may be selling due to divorce, a death in the family, or a career change. For whatever reason they're selling though, they're trying to get out quick. Better Selection of Agents - Since the market has slowed down you'll be able to find yourself expert service that you may not have found in the busier summer seasons. Experienced, successful agents will be looking for serious buyers, since their incomes are also feeling the slow down as well. Lenders are Less Busy - You may not think having a dedicated and timely lender is important; unless you've been slowed down multiple times by one. Lenders are slammed in the summer months, trying to churn out as many loans as possible. While this is great for business, lenders often overbook themselves and can't keep up. Buying in the low season can be much easier, since inspectors, lenders, appraisers and other Denver real estate agents tend to not only be at your service, but actively looking for buyers, and even possibly more willing to negotiate on their prices, interest rates and commissions.
