Is late in the year the best time to buy a house?
On the plus side is:
There may be houses that were first listed during the Spring and Summer that sellers have either improved, repaired and/or lowered the price. Sellers with these houses that have been on the market a long time may be highly motivated and more realistic about the price they will accept.
Sellers who weren’t planning to sell and are suddenly having to sell may be very motivated and realistic about pricing.
You are competing with fewer prospective buyers. Many people who have planned to buy during the year have already done so by late in the year.
On the other hand:
You may have to sift through a lot of inventory until you find a gem.
Sellers who have to suddenly put their house on the market have probably not done some of the pre-sale repairs and improvements that those who listed in the Spring and Summer may have done.
And the answer is . . .
I have found that there can be excellent bargains waiting to be found during the last few months of the year.
The secret is four fold:
1. Work with a veteran broker who can help you find that diamond in the rough and avoid the money pits. As a “Home Inspection & Safety” consultant I offer a highly valuable free service that will help you:
- find houses worth more than ordinary buyers realize
- and be in a better negoitating position when you make an offer
2. Only work with a broker who works ALL properties that may be for sale and doesn’t limit your choices to just the houses in the MLS. More often than not the best house for you will be listed in the MLS but you need an experienced broker who will help you find and evaluate all properties that may be for sale.
3. Don’t wear yourself out going to see every property on the market. Work with your broker to identify those properties that may be ideal for you and focus on giving extra attention and evaluation to a few listings each week instead of looking at dozens of listings for a few minutes each.
4. Be sure your broker has a strategy to get you in houses just as soon as they come on the market. I've been able to get many great deals for my clients by helping them be the first to see and make offers on newly listed properties.
To buy “A Better House at Lower Cost” call or text me at 719-304-4684. Or drop me an email.
Let’s go take a no-obligation look at 3 houses so you can learn the tricks and secrets to finding a great deal.
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