I, for one, am still stuck in a summer state-of-mind. So I find it absolutely astounding that we’re already a week away from Thanksgiving! And that 70 degree weather in mid-November is only adding to my delusion.
We’re heading into the 6 week stretch that most think of as the unwritten “off-season” for buying or selling a home. Contrary to popular belief, there are some major benefits to both sides of the transaction to moving forward now. Trulia recently published an article that discusses the upsides for buyers who decide to “house hunt” during these next two months. Here’s a basic summary:
1) Lower Competition. Fewer buyers (because families with children prefer to purchase a home when school is out for summer), fewer multiple offer scenarios, lower likelihood of being outbid.
2) MOTIVATED Sellers. “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.” Also, if you think you’d like to look at short sales, some bank and asset managers have extra motivation to get those properties closed and off their books before the year ends.
3) Can’t miss properties that won’t wait. Fewer properties on the market means that you’re more likely to see all of the homes that have the location, amenities, and price you are shopping for. No missing out on hidden gems!
4) Keeping a handle on your cash. You will stay extremely aware of what you are spending on the winter holiday shopping when you’re getting ready to put a 20% down payment on your dream home. If nothing else, this certainly puts purchasing that fruit cake for someone you’re not terribly fond of in perspective.
5) Spot the money pits! When the weather is sunny and 72, it’s much more difficult to spot a shoddy roof, drainage system, etc. A home inspector is much more likely to discover a serious defect when the home is being put to the test during the rain, snow, wind, and sleet that accompanies this time of year.
Convinced to at least start looking at properties during the off-season? I’d love to get you started on our search site, LiveLoudoun, that is the most up-to-date home search in the area. You can access it by CLICKING HERE!
Never hesitate to reach out with any and all of your real estate related questions, I’m happy to help!
– Casey Menish
The E4Realty Group of RE/MAX Gateway – 42365 Soave Drive, Suite 200, Ashburn VA 20148
*Special thanks to Tara-Nicholle Nelson, the original author of “5 Unexpected Upsides to Off-Season House Hunting”