So real estate wisdom and over the years experience in buying and selling homes in Orange County, tells us that Spring ( a couple of weeks after Super Bowl) and Summer are the prime seasons for house hunting and moving. People are more likely to get out and shop when the weather is nice, it works perfectly with kids finishing school and there's more inventory. It is a more pleasant time of year, and sellers know their homes and backyards will look better with some sunshine coming through. But what is you have to move in the Winter? Or need to buy asap and don't have spare time to wait until the Spring and Summer? Here's some great reasons why buying in the winter can be a great bet:
Fewer Buyers to Compete With
Simple economics of supply and demand. The low demand will work in your favor. So for the investor looking to find a good deal in the housing market, the winter can be prime time.
Prices Are Lower
When you have fewer buyers in the market, supply exceeds demand. The trend is prices usually starts in the Spring, so this is a great time to catch that train before it leaves.
Sellers are Motivated
All the low activity in the winter will result in sellers being far more motivated to sell. Real estate agents know that the slow winter months are when sellers are more willing to negotiate, whether it is on selling price, closing costs, closing date or even terms of the sale.
These are all the very great reasons why many real estate agents recommend that their clients delay listing their homes untill at least the Spring. The winter isn't the best time for sellers, in general.
But what if you are a seller, and need to sell?
Life happens. Job offers, relocations, divorces, financial issues or just a desire to move right this second. What are the advantages for the sellers? Here's some:
The house you want
If a seller wants to purchase a different home, the next home will have fewer number of buyers competing, so the chances of having to be in a multiple offer situation for the new home, are reduced.
Your Real Estate Agent will work harder for you
There is low activity in the winter months, so more likely a seller will have the undivided attention of your realtor, and he or she will be working harder for you. These lean months of low sales volume encourage realtors to try just that little bit harder to negotiate a sale.
Is right now your time to buy or sell? Let us know asap! Remember that in the U.S. and specifically in Orange County, it is still a great time to invest in real estate. Prices are still below comparable markets in LA and San Diego and despite the slow increase in interest rates, they are still low compared to many other years. Your home is waiting for you!