Wondering if it's too hot to go look at houses in Central Minnesota during the summer? Does the heat and humidity have you saying, "We'll just look next week, when it gets cooler?" If this is the case, think also about the money that you could save as a buyer in the hot season. Just as it is in the holiday months of Winter, the Real Estate market is affected by buyer activity-and activity usually dips on the hottest days and weeks. And finding your favorite home or vacation property during this time can mean that you may not have to compete for the best picks of the summer. Competing doesn't just mean making offers at the same time as others-it is ALSO buyer activity on a home (showings).
Usually, when sellers consider offers on their home, they also consider the likelihood of another offer, based on the activity a home is seeing. If there is little or no activity, sellers usually believe that the probability of another offer is low (in other words, negotiate lightly to keep the buyer). Conversely, if a property is experiencing great traffic and high activity, an offer may be viewed as less valuable (or expendable).
In Central Minnesota, the fact is, there is less of a supply than the last seven months (11 months of supply). This translates to more activity-more sold and more new listings. So, if you are asking yourself if it is worth a trip through homes in the heat, just remember that your competition (other buyers-180 of them last month bought homes in the St. Cloud area) will likely venture out on the cool days too. The greatest opportunities are those that are least exposed. Get in there when you have to compete the least!
Think of it this way, if your favorite store runs a special for a "one-day sale" or a "weekend special," you would try and hit that to save a few bucks, right? In Real Estate, the heat IS your sale!
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