Winter Buyers Looking for Bargains
A recent survey by the National Associations of Realtors reveals that buyers looking to purchase homes this winter will be looking for bargains. The real estate market usually winds down during the 4th quarter but it never stops.
I find that home owners who put their homes on the market during the holidays do so either because they have to sell or they want to avoid competition. People still change jobs, get divorces or have family emergencies all year-long and the holidays are no exception. Having to sell during the holidays is never pleasant, but it is a reality.
Sellers also know that there will be fewer houses for sale during this time so buyers will have fewer options. If you could sell when you have less competition, why not?
I also find that buyers who are shopping during the holidays are really serious. Two years ago I helped two different buyers shopping during the holidays. In both cases, these buyers seriously wanted to buy a home and would work around holiday plans to continue their home searches. We actually put in offers on homes during this period. I am happy to say both buyers found great homes and closed shortly after the new year.
The N.A.R. survey found that buyers said they figured if there were fewer people looking to find homes, they might have a better chance of snagging a bargain home or have fewer multiple offer situations which would keep the bidding wars to a minimum. They were also looking to avoid the crowds looking to buy in the Spring.
From my experience, I think these buyers are smart and have a better chance of finding a great home.