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leenamark

Buying/ selling in winters

leenamark
11 years ago

I read in an article recently that buying real estate must be avoided in Winters but if you are planning to sell then its a good idea. Why is it so, please reply.

Comments (10)

  • greg_2010
    11 years ago

    So the article just stated that as a fact and didn't explain the author's reasoning at all? That is a bad article.

    There are pros and cons for selling in every season. Everyone has an opinion on what they prefer.

    For example:
    Selling in the winter means that there are probably less buyers looking. Selling in the summer means there are more buyers but also more other houses being sold (ie. more competition).
    Buying in the winter means less inventory but less competition for what is out there. Buying in the summer means more inventory but more competition.

    And there are probably a hundred other reasons too.

    This post was edited by greg_2010 on Fri, Jan 4, 13 at 13:29

  • dreamgarden
    11 years ago

    "I read in an article recently that buying real estate must be avoided in Winters.."

    Do you have the link to this article? I'd hesitate to judge the validity of the content before I read it myself.

    Having said this, we bought our house in Feb. It was on a lot across the street from a nature area, next door to a couple of acres of woods in an upcoming community.

    Even though there was a foot of snow covering everything, it was in such a good location that I knew it would be snapped up come spring when all the flowers, trees, etc were blooming.

    I was correct. At least of the two contractors we've since hired have mentioned that they were also keeping an eye on it. They were counting on the owner lowering the price in poor weather so they could buy and flip it.

  • c9pilot
    11 years ago

    "All Real Estate is LOCAL"

    Much depends on where you live. We have a large snowbird population and winter is when they shop for second homes down here.

    On a related note, hurricane season can make it a little more challenging to close on a home, because homeowners' insurance must be in place to close, and companies won't write policies if you are in the "cone" (varies by company).

    Also, inventory is so incredibly low right now in my vicinity, that it is a seller's market for the most part. Buyers are standing around waiting for listings and I'm about to start sending letters to expired listings to see if the owners might sell.

  • lazy_gardens
    11 years ago

    "I read in an article" ... link please. Because it's probably an unsupported assertion.

    I've bought two houses in winter - waded through snow to get to them.

  • RooseveltL
    11 years ago

    I'll summarize what the article should've done.

    Families - during school year not to many changes happen which includes divorces, or major displacement changes which impact the youngins and school year.

    In most of the US - unless you are selling a starter or apartment - the majority of home shoppers have families or schedule purchases around Spring/Summer/Fall. Those shoppers don't look to move during school year.

    However, if an empty nester or retiree winter is a prime time in the Southern US to get showings because it showcases the best time of year to be in AZ, FL, or TX (instead of 100+ summer heat).

    You have more shoppers/buyers in the summer months but more competition.

  • marie_ndcal
    11 years ago

    Nothing would get sold in ND if that was true as we had our first snow fall middle of Oct and after that can expect anything at any time. Finally there are beginning to be houses avaiable, but due to the oil boom, at one time Minot and many other cities had NOTHING avaiable except at ridiculous prices. Even in the small towns.
    Yes it is cold, down to 20 below (not wind chill) to maybe 25-30 above and snow everywhere. We just deal with it.

  • leenamark
    Original Author
    11 years ago

    It is said that since not many buyers are interested in the holiday season so sellers try to take maximum profit out of it, they sell the property at slightly higher prices because only those in real need of the property would buy in this season. But I think getting in touch of an agent and asking for the price history would help.

  • Christy Bell
    11 years ago

    We've purchased our last two homes during Dec/Jan. time frame. I think buying at that time can be tricky as you may not always see everything on the property if there is snow, etc. and you are seeing the property in the worst possible time since leaves are off the trees and nothing is in bloom. However, good deals can be had because most likely these home were on the market the summer prior and have gone into winter where the market is slower. Having said that, I would never put a house on the market during the winter, I'd wait until Spring when the leaves are coming out and the property looks better.

  • laydeebug72
    11 years ago

    There may be several reasons that selling in the winter may not be a preferred time.
    1. The yard and landscaping doesn't show well
    2. You are taking a client into a cold house, doesn't give the warm cozy feeling you are trying to imagine when looking for a home
    3. Most people would prefer to move when the weather is warm.
    4. People consider that heating issues may be a problem in a new house, not something you want to deal with when it's cold.

  • ncrealestateguy
    11 years ago

    Disregard what the writer of the article says.
    If you want to buy in the winter, then buy. If you want to sell during the winter, then sell. If the home is priced correctly it will sell. If a buyer finds a nice home during the winter, you should buy. Simple as that.

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