It was the Wednesday before Thanksgiving 2008 when I called Sarah (my girlfriend at the time, now wife) to see if she could leave work early to meet me and my realtor at a property that just had a significant price drop. I had been house searching for months with little success. Although we weren’t engaged yet, I was hoping to pop the question soon so I really wanted Sarah’s opinion if I was going to move forward with this home.
We toured the home, a foreclosure, and although it needed some work we knew we could manage it and the price was right. I made an offer that night which was ratified over the holiday weekend. I settled in late December and started 2009 off in my new home! Granted
I bought at the bottom of the market which was great for me, but it has turned out to be a great home AND a great investment.
You don’t need the market to crash to take advantage of a great housing market. There are aspects of the Winter Market that I was able to take advantage of and YOU can too! Veterans United has a great infographic. Essentially, they point out the following:
- Sellers Are Motivated to SELL People that sell in the Winter often do so out of necessity. Think about it, who wants to go through all the work that goes into selling a house during the winter holiday months? Only those who really need to sell put themselves through it, which means they will likely be motivated to consider most reasonable offers.
- Bargain Prices Home prices tend to be at their lowest in the winter months, enough said.
- Less Competition There are fewer buyers in the Winter, which means there will be less competition and less of a chance to need to escalate your offer.
- Get a REAL feel for the home Winter is COLD. When you tour the house is it drafty? Do you notice areas near windows or doors that seem unreasonably cold? Could you feel the heat working?
- Availability of Realtor, Inspectors, Contractors, and Loan Specialists All of these professionals tend to be less busy in the winter, which means they have more time to assist YOU!
Deciding whether it makes sense for you to buy during the holidays or wait until the spring? Contact me and I’ll be happy to talk through what makes the most sense given your situation. 202-359-2483