Chilly winds, chances of snow, leaves on the ground, and dormant bushes and shrubs: all reasons to stay indoors and warm during the heart of Winter. Yet one reason you should brave the cold and step out is a regular dip in real estate traffic this time of year that can be a boon for buyers. That dip in buyer volume means that there is less competition for available properties and buyers are in a stronger negotiating position during January, the best month to buy real estate. Take a look below at some of what I’ve learned about winter buying over the past 25 years. My experience has shown me time and again that great deals are available in January. Give me a call at 336-575-7249 and let’s get started working together to find your next home.
Just like you hurry inside when sharp winds cut through the air, many buyers take a break from looking at real estate in the heart of Winter. This means less competition and possible bidding issues on prime choices. Buying real estate is dependent upon both the assessed and perceived value and opportunity in the market. Sellers that are receiving low levels of traffic and few bids are in the hot seat when it comes to negotiating a final offer. Use this to your advantage and you could save thousands.
The biggest expendable spending season in America remains October through December of each year. The last quarter sees a spike in spending on gifts, travel, year-end specials, and other big ticket items. With today’s credit-focused economy, many sellers will be receiving the bills for holiday spending sometime in January and will be eager to feel relief. Waiting until tax returns start to process and refund checks start to mail in Spring shifts this psychology back into the court of the seller. However, coming in with a real estate offer during the height of the seller’s pain of opening credit card and payment bills places you in a prime position to negotiate a great deal.
Like the spending spree seen in October through December, real estate pricing follows a fairly predictable cycle that sees bumps in pricing around both September and early Spring. This means that making offers in the periods that come immediately before these regular bumps, such as in January, can see cost savings of 10-15%. For a small retail purchases, this might not amount to much, but when buying a home a 10-15% shift in cost can be quite significant. Consider for example that Zillow lists the average home value in Winston-Salem as $110,600. This would mean that an average home purchase could fluctuate in cost by as much as $16,500 in just a few weeks. Would you wait a few weeks to make a purchase offer if you realized that the cost could jump this much?
Now that you better understand why January is one of the prime times to be a buyer in the market for real estate, you’ll need to align with an experienced agent that can guide you through the market and find the ideal home for you. Start by exploring my website to see some of the properties I have listed and then give me a call at 336-575-7249 to discuss all my experience can bring to your next real estate transaction.