What Should You Know About the Holiday Buying Season for Real Estate?

Posted by Kris Lindahl on Sunday, December 20th, 2015 at 9:07pm.

Holiday Buying Season

So, it’ a new home you’re hoping for this holiday season? Since you aren’t likely to find it under the tree this week you’ll need to get out and do some serious shopping. Sure, it’s easier to find a home in spring and summer but buying a home in Blaine during the holidays isn’t impossible.

Competition is low

The winter months in Blaine don’t hold the volume of buyers that you’ll find in the spring and summer markets so you’ll have less competition for the homes that are for sale. Less competition means fewer multiple offer situations as well – more good news. This doesn’t mean, however, that you’ll get an amazing bargain on a home. Studies show that homes sold in the winter sell quicker and typically for more money than those sold during other seasons.

Many winter home sellers, on the other hand, have their homes on the market right now because of an urgent need to move. This could be for job relocation or any number of other reasons. So, motivated sellers are out there and if you want to bargain on price, we’ll need to find them.

But inventory is too

Fewer homes sell in winter because fewer homes are listed in winter. If you thought last spring and summer were low-inventory periods, wait until you see the paucity of listings of homes for sale in Blaine in the winter. We’ll have to be diligent in immediately jumping on new listings that fit your criteria. It may be inconvenient at times but it’s the old early bird that gets the house in The Lakes, right?

Everything moves at a slower pace

This one needs some clarification: the closer we get to the end of the year holidays, the slower the pace. At any other time in winter, transactions move along at a pretty good clip (remember that fewer homes are being sold so all those involved aren’t as busy as they are at other times of the year).

Like most Americans, mortgage brokers and underwriters, title reps and even real estate agents like to take time off at the holidays to shop, attend events and be with family and friends. The real estate industry pretty much looks like a ghost-town from December 23 until about January 2, so don’t expect to close during this time. In fact, we’ll structure your contract to close either before or after these dates.

Buying a house in Blaine during the holidays can be challenging, but we’ll be with you every step of the way and we think you’ll be glad you didn’t wait until spring.

 

Kris Lindahl
Kris Lindahl Real Estate
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