We all can agree that the spring is usually the busiest of seasons when it comes to the real estate market. Often we will see many buyers and sellers wait for spring to make their move. But knowing what we have experienced these last past two years – is this really the best strategy for buyers? When you think back on the last two years, where buyers either felt they had over-paid for a property, or just felt beaten down by the process with the multitude of offers and bidding wars on properties they were offering on – Do you really want to go down the road again? If you are a buyer, who is ready to buy a home but is waiting on spring market to make your move … you may want to consider these few things.
It’s all about the competition …
The reality is, there are less buyers out there looking to buy a home in the winter months, giving “ready” buyers a little bit of the upper hand without feeling the pressure of buyer competition. Having said that, the same holds true for sellers, who tend to wait until spring to make their move, giving buyers less options to choose from. But keep in mind … it only takes “one house” that could be the perfect home for you! With the lack of inventory still being the driving force of the market, buyer competition can be a key factor to getting your offer accepted by the seller. During the winter months, sellers may be a little bit more willing to negotiate with you knowing the real estate frenzy of the last 2 years, for now, appears to be in the rear-view mirror.
Spring vs Winter Market
In years past, the housing market has gone through predictable seasonal trends in market activity. Winter as we know it, typically is a quiet time of year for real estate, while spring will see an increase of buyers entering the market as they begin their home search. Experts predict that this year will be no exception. Thus, if you are a “ready” buyer” now may just be the right time to start or continue your home search before your competition grows as more buyers enter the market.
Sellers May Be More Motivated
Low demand from buyers means sellers may be more likely to work with you. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. But keep in mind, the advantages buyers have this winter may be short lived. The competition you face could be greater come spring, if you wait to make a move … and with increased buyer demand gives the seller less motivation to negotiate with you
The Key To Your Real Estate Success
Helping buyers and sellers achieve their real estate goals