Lower Competition for Dream Homes
In most places, the summer months is the time to buy in real estate, because families with children prefer to move into their new homes before September.
House shopping during the off-season can mean:
• Fewer competitors
• Fewer multiple offers scenarios
• Lower likelihood of being outbid
Though there are fewer sellers during the off-season, those who are active tend to be highly, highly motivated. 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.
Even some banks and asset managers handling short sales and foreclosures may have above-average motivation to move properties off their books and get transactions closed before the year-end. Buyers shouldn’t expect to score a mansion for pennies, but they may get slightly more consideration, responsiveness and speed than in a distressed transaction at any other time of year.
Life is short. Don’t let it pass you … Buy!