Four Seasons
“Timing is everything.” The best time to buy a home is when you are ready. Your timing isn’t contingent upon seasons or holidays. There are more opportune times to purchase a home than others.
While sellers seem to go into frenzy in spring, they tend to hibernate during the winter months. Many homeowners actually pull their listings off of the market during that time so they won’t be bothered by open houses or showings during the holiday season. While you may think it’s crazy to tackle the huge task of home buying during the schedule-jammed holiday season, the holidays are actually a great time to find real estate deals in today’s new economy. Only the most motivated sellers are active during the winter season. A serious seller means more negotiating power for the buyer, especially if the home has been on the market for several months. Many owners are anxious to get the home sold before the end of the year because it helps on their taxes. Home prices are at a 12-month low in December.
Spring brings rain and flowers and rain. Spring offers sellers the opportunity to showcase their home at its best. Typically the marketplace is flooded with inventory. There is more on the market in the spring than any other time of the year. This means that there is plenty of both inventory and competition. Buyers also like to start looking for houses during this season because they can travel and get established before the prime summer vacation season starts. You might get even a better deal if you wait until mid-March, when many of the spring houses are already on the market and buyers are looking for something new. There’s always something nice about buying your home when it’s not too hot or too cold out and the air is fresh. Spring is the season of new beginnings. Why not begin spring in a new home?
The momentum of the spring season usually continues into the summer. This is the second best time to purchase your house. The only reason summer is not as popular as the spring is because home sellers want to get in on the beginning of the sales season and not in the middle of it to allow as much time as possible to sell their house before the winter months. This in turn works for a buyer. You can see what homes are selling for in the area you are looking in, and base your offer on the average price, not the high peak of the selling season. Vacations are usually popular during this time, so expect to have to work around sellers’ vacation schedules. However, more people on vacation means less competition for your offer. Housewarming barbecue anyone?
During the beginning of fall, especially if you are single, there are great bargains simply waiting for you to snatch them up. Parents have to get into a routine with the new school year. You don’t, so you have more free time available. Sellers are more able to accommodate daytime showings in the fall; occasionally a home listed in the fall has been on the market for a long time and the seller might be willing to accept a lower offer. Fall listings are usually aggressively priced to sell before the winter months. If you are buying your home in the fall, landscape with seasonal decorations that you can find at local farmer’s markets. You can get to learn your new neighborhood and support local business at the same time. Don’t forget to purchase by December 31. There are tax benefits if you are in your new home by the end of the year.
