5 Unexpected Upsides to Off-Season House Hunting... And one will be a surprise!
1. Lower competition for
your dream home.
In most places, the summer months are the hottest months of the
year in real estate, because families with children prefer to move into their new
homes before September. House shopping
during the off-season can mean
• fewer competitors,
• fewer multiple offers scenarios, and
• lower likelihood of being outbid.
• fewer multiple offers scenarios, and
• lower likelihood of being outbid.
2. Very motivated
sellers
Though there are fewer sellers during the off season, those who are
active tend to be highly, highly motivated. Sellers who are willing to clear the whole family out of the house
when everyone else is having warm fuzzy holiday gatherings are motivated to get
their homes sold - and ready to entertain your offer to make that happen. Even some banks and asset managers handling short sales and foreclosures
may have above-average motivation to move properties off their books and get
transactions closed before the year end. Don’t expect to score a mansion for
pennies, but you might get you slightly more consideration, responsiveness and
speed than in a distressed transaction at any other time of year
3. Can’t miss properties that won’t wait
Off-seasons are when fewer new listings come on the market. That
said, this is a great time to spot hidden gems that offer unique mixes of
property fundamentals, amenities and location. There are sellers who have
stellar homes, but have been holding off on listing all year for some reason or
other. They end up listing at just the time that works for their lives. If you’re
a picky buyer, putting your house hunt on hiatus when most other shoppers take
a break puts you at the serious risk of missing “the one.”
Search for distressed properties HERE
4. Keeping a handle on your cash.
You’d be amazed at how many buyers and sellers find their
financial plans - and cash cushions - derailed by taking themselves out of the
house hunting mindset. Overspending is
easy to do. If you pass your holiday season focused on Open Houses and
showings, versus how to find the bow big enough to stick atop your wife’s new
car, you’ll minimize the likelihood of having to press pause on your real estate
plans while you recoup from your hemorrhage of holiday funds.
5. Money pits become crystal clear.
Buyers
rely on inspections and disclosures to surface the hidden defects and property
issues. But if you’ve ever read a property inspection report, you know they come
with a laundry list of caveats and exceptions, line items where the inspector simply
can’t make a call or vouch for a feature, because they could not see the feature
in action during the time they were on site.
Off-season house hunters have the unique advantage of being able to see
the roof, drainage systems, slopes and basements of a property performing under
the precise weather conditions - rain, snow, wind and sleet - that often cause
unpleasant surprises to spring and summer home buyers. If ‘your’ target property has a roof leak,
you’ll know it, if you view it at this time of year - and that allows you and
the seller to negotiate a fix or a credit before you lock in your price and
terms.
Remember: The normal rules apply
The off-season is a great time to buy, but don’t expect to score a
mansion for pennies. And, our real estate “seasion” here in the Triangle, NC is
year round. Have questions, let’s talk!
You may find you’ll get you more consideration, responsiveness, speed, and
maybe a better deal than shopping any other time of year
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| SOLD! Be Savvy... Call the Smart Realtor |
e-PRO, Strategic Pricing Specialist
Fathom
Realty NC, LLC
Phone: 919.306.9699
Email
Phone: 919.306.9699
