When the weather starts to get colder there is a common
belief that the real estate market really slows down. Whether or not this is true, this time of
year screams opportunity for sellers and buyer.
This blog will focus on the opportunity that it sheds for buyers.
With the current appreciation of the market waiting on the
sidelines until the spring to buy, can end up costing a buyer thousands of
dollars. The question I have for you is,
are you willing to pay $300,000 for a $275,000 house, by waiting until the
spring? When you factor in appreciation and
the anticipated increase in interest rates, especially as we head into election
season, a buyers buying power can be diminished. So buying that $275,000 home now for only
$275,000 is the best way for a buyer to maintain their leverage.
When you take into consideration why homes need
to be sold, it is very common that sellers sell in the winter due to job
relocation. Thus, there is a very high
motivation for a seller to sell quickly.
In some cases when a seller has to choose between time versus money,
they will take a quicker close. This is
advantageous for the buyer, as they can find good deals, and save thousands of
dollars on their transactions.
over the course of the summer, and still today, there is the common occurrence
of multiple offers. Thus
in the winter the fewer number of buyers competing for homes means that the
chances of there being multiple offers on a single property are greatly
reduced. This again translates to buyers having the upper hand over sellers in
Additionally, when considering basic
economic principles, when you have fewer buyers in the market, supply exceeds
demand. This usually results in prices will being lower than during the hot
season. Depending on the market that you
are in, this can vary, for example in Denver3
currently there is the second lowest inventory of homes in the country (only
behind San Francisco.).
So, what do I want you to take away
from this? Well, I want you to realize
that just because it starts to get colder, doesn’t mean that real estate market
will freeze. There are wide array of
opportunities for investment, relocation, and even dream home purchases, so
give me a call, and I would be happy to help you build the action plan to get
you into your new home before the end of 2014.
Curious what your home is worth?
Use our FREE online valuation tool Click Here!
Michael Kane is a Broker Associate at Keller Williams. He is a member of the
Carr Peck & Associates team that is recognized locally and nationally as in
expert in real estate. Locally he is a member of the Denver Metro Association
of Realtors. Nothing brings him more joy than making his client’s dreams
become a reality! For more information feel free to contact
him or call 303-717-9284.
Information provided by realtor.org and image courtesy of google.com
Author:Jason Peck Phone: 720-446-6301 Dated: October 13th 2014 Views: 640 About Jason: ...
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