Snow, ice, frigged temps…..brrrrrr- no one wants to go outside in the middle of winter. Perfect! Well, perfect for an Investor to buy a property. While the Raleigh/Durham area is not known for horrendous winters, we still get our share of very low temps, ice, hail and other problems. Plus, that occasional snow. Typically, when someone is listing in the winter, they know that it is not the ideal time, so they may have a circumstance that puts them in a position to have to sell; translation- seller’s are motivated. And there are far fewer buyers that are looking. Buyer’s are not interested in packing up their lives and moving during the frigid months. And homeshopping in the Spring is an enjoyable experience, so many put it off until then. Hurray- you may get the deal you desire because it’s a buyer’s market.
Da da da da da Inspector Gadget
There is another benefit to buying at this time of year, the inspection. Talk about having all of the elements in play that could produce results you need to see. Does the cold air stream in under the doors of the home? Does the house heat enough? You get the idea. If you do find things you may have more power to negotiate better deals to pay for some items that you may not have caught before.
The best part of the lack of demand due to seasonality is that prices should be slightly lower. You will probably get more attention from your Broker as well because chances are they are slower at this time too.
Author: Lori Webb, Broker from Property Specific Realty
Property Specific is a Raleigh based Full Service Real Estate firm that focuses on Investment Properties and Property Management Services.