Pros and Cons of Off-season Real Estate

There’s a chill in the air. The first Christmas lights have made their way onto the trees. It’s time to buy a house. Wait a minute, what?

Buying properties in the off season has its advantages. There may be fewer homes on the market but they are out there. For instance, an owner may need to unload a property because of a new job. That new job is available when it’s available and opportunities do not wait for the real estate market to heat up.

On the other hand, someone buying a home when the air gets cold is likely really interested in closing a deal. That individual, for instance, could be looking for a home in the area because they got a new job. So, there are advantages for individuals on both sides of the deal.

The Advantage of Desperation

A home on sale in the off season may have failed to find a new owner during the selling season. It may have been priced a little too high and lost out to the competition that had the right price tag. That lagging home seller may be more pliable with price at this point, nervous that the home will remain on the market too long.

Also, as said before, a homeowner may need to move because of a new job. That can be an advantage to an individual looking for real estate gaithersburg md. A great job offer means a homeowner likely needs to close up shop, giving a home buyer the upper hand when it comes to negotiating.

In fact, according to an article in Forbes.com, a buyer should feel more confident during the off-season home-buying process. A property still on the market when the air gets nippy is being considered by a smaller number of buyers, according to the author. This means the buyer is most likely in the driver’s seat.

To add to that, the lack of competition means the home buyer ready to make a move may get a better response from a home seller. Fewer expected offers can motivate a potential seller to sign the dotted line, particularly if the offer is not far off the mark.

Who’s Buying When It Gets Cold?

Where a home seller can show signs of desperation during the winter, a prospective home buyer, on the other hand, can show signs motivation. An eager buyer does not care when a “for sale” sign appears. If there’s an interest in the property, then there’s interest — plain and simple. A motivated buyer has a reason for making the deal and a seller can take advantage of this.

Long story short, both sellers and buyers have advantages. The colder weather may not seem like the obvious time to buy or sell a home, but consider why people are in the market. There are reasons that can be manipulated to one’s point of view. So bundle up and get ready to work the market.

 

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