Are you worn out from trying to buy a home in the height of the season? The Denver real estate market has been so competitive for the past few years […]
Are you worn out from trying to buy a home in the height of the season? The Denver real estate market has been so competitive for the past few years buyers and their agents can get burned out spending so much time house hunting and submitting offers only to find they’ve been beat out by a better offer or a cash deal. It’s frustrating, and it’s exhausting. Entry price-point properties go so quickly, sometimes drawing twenty offers in the first weekend. Mid-price homes go quickly too, perhaps you’ll only deal with five offers. The problem is, you have to fall in love with a house to want to write an offer and when your offer is rejected, you’ve not only got to get back out there, you’ve got to do so with a broken heart, and that’s tough.
Well here’s the good news. Winter is a great time to purchase a home! With fewer buyers out there shopping, you’ve got less competition and prices aren’t driven up by multiple offers. Sellers who sell in the wintertime are serious, motivated. Often taking a holiday break from showings, January comes and they are ready to move on. The fact that there may be fewer listings to chose from is balanced by the drop in buyers and means you won’t be spinning your wheels. Looking for homes in the colder temps gives you an idea what your future home may look like in March, when you’re living there and the spring storm hits. Does the furnace work well, is it loud? Are there patches of snow that seem to never melt, walkways subject to stubborn ice, windows that fog between the panes, ice dams sliding down from roof to gutter? If you’re looking at condos or HOA communities, you get a sneak peak at how well their snow removal service performs.
High selling season brings out the sellers who want to sell “if I get my price” and unless they’ve got a strong agent who is able to guide them on proper pricing, often times they start too high. The house gets some activity, languishes (yes, even in this market) and the under-motivated seller isn’t interested in adjusting the price to suit the market so they withdraw the property. I get it– you want what you want– and I’ve also been in situations where a strong offer is submitted and the unrealistic seller refuses it. Not too logical, but it happens. The Denver real estate market has cooled some, at least where prices are concerned; not falling, just not pushing up so quickly. This is good news for both buyers and sellers as the feeding frenzy can be stressful, pushing prices above appraisal values, adding unnecessary drama to a transaction. The market is more balanced and realistic, negotiations between parties tend to be calmer, which makes the process as smooth as…ice.
Like winter buyers, winter sellers are serious. Like serious buyers and sellers, I’m a serious Realtor®, winter shopping does not scare me. That’s why I bought a Subaru, a puffy coat, gloves that let me search properties on my phone and a giant tin of hot chocolate. If you’d like to take advantage of the “off season”, call or email me and we’ll take a look at making it work for you. After all… you don’t want the parade to pass you by!