When I started in this business over two decades ago, I clearly remember a September Sunday afternoon, when I was speaking with a veteran agent who had been doing this a long time before me. It was a beautiful afternoon in South Orange County but my open house in a great home in Dana Point that I was holding was a snooze-fest. That veteran agent let me in on an old secret: "Football has started. You won't see anybody out for months now." Naturally, I thought he was off his rocker. No way does football have anything to do with it.
And yet, here we are, on the verge of the Super Bowl, and I can't wait for this thing to be over! Yes, I'm a huge football fan and I love the season as much as anyone, but the end of the football season marks the beginning of a new season..."the home buying season". It turns out that the agent was right! During football season, the home buying activity slows to a crawl and then, ta-da! as football ends, the real estate activity spikes. There are all kinds of numbers and charts that would bore you to tears, but never-the-less, looking back as far as 2002, long before this last slump in the market and all the way through it, the numbers hold true. Now, the numbers have shifted from spiking in February, you know, back in the day when the Super Bowl was in January, to spiking in March, but it's still a spike and I'm ready for it!
So while you enjoy that 5 pound tub of guacamole in front of the football game, think about this….home buying season is coming soon!
So - what does this mean if you're a home buyer? It means that there are other people out there just like you. They're looking at the same homes you're looking at and they're poised to buy a home today. If you see the home you like, then buy it. If you don't buy it, somebody else will.
And - what does this mean if you're a home seller? Get that home spiffed up and get it on the market. If you want to expose it to the maximum number of buyers, your window is opening right now. Especially if you're going to do the old, "test the market at a high price and then drop the price if it doesn't sell in 30 days" routine, then you'll want to have time to adjust your price down while the activity is still going. See, after about May, the buyers are all thinking about other things - summer vacation, blah blah, so all those sellers on the market are fighting over fewer buyers as the window closes...You'd rather be in the market when there are more buyers, right?
Quiz - do you really think the market pattern is a result of the NFL season or just a coincidence? I guess it doesn't matter what the cause is, as long as you recognize the pattern, right?
If you need any help in planning your Orange County real estate deal, just give us a call. We'll be happy to discuss your situation over the phone and answer all of your questions without any obligation at (949) 888-6788 or via email at TeresaMihelic@OCExecutives.com.