Use the slowest month in real estate to your advantage when buying a home.
December is a slow month for many industries—with the holidays and the cold weather, it’s no wonder there’s a slow down in the real estate market. With travel, gift giving, and celebrations on the mind—not many people are thinking about buying a home. It’s for that reason house shopping in December can be leveraged to your advantage.
1. Fewer Buyers in the Marketplace
This means cheaper prices! Since homes are priced to sell and lower demand drives prices down—you’re destined to find better pricing in the winter months. Fewer buyers on the market reduces the likelihood of multiple offers, so you’re less likely to get into a bidding war, and submitting an offer should feel relatively stress-free.
2. Homeowners Eager to Sell
Just as it’s unlikely for people to shop for homes in winter, it’s also less likely for someone to sell their home in the winter. It’s probably the case that these sellers have a pressing situation requiring the sale—such as job relocation or financial necessity. In cases such as this, you’ll have more negotiating power to sway the deal in your favor.
3. Slowdown in the Lending Market
If you’ve bought a house before, you know that it can sometimes be a difficult process getting a loan, and loan officers are often difficult to reach. If the market is slow overall, it’s more likely that you’ll be able to take more time with your LO, and construct a mortgage plan that’s exactly as you want it. Having ample time to secure and pre-plan financing can set you up for greater long-term success.
4. Lower Moving Costs
Moving companies eager to secure a job are likely to throw some perks your way for using them during a lull. Not only could you get some free packing materials, you’ll also have an easier time scheduling them during prime-time weekend slots. That makes your life a heck of a lot easier when it comes time to pack up your house and settle into a new place.
If you’re looking to buy a home in Boise, Idaho— don’t stop just because the market is slow! A licensed Tiger Prop agent can help you find exactly what you’re looking for and save you money.