A good real estate agent will always tell you that a market is not governed by arbitrary forces, and that there is a determinant for everything.
Tips from expert Real estate agent
In this article the best time period to generally buy a house, along with the worst, will be introduced to you. By the end there’s a strong chance you be making your next major life decision based on this.
Best Month for purchasing property
In the start of the year everyone is looking forward to good news, and this is one of the best of its kind. The main determining factor of January being the best month is the median price at closing, which is the lowest compared to any time of the year. There are certain reasons which contribute to any buyer’s agent recommending this time of the year for major decisions:
- Average 3 Months in the Market
At the start of the new-year, the average time that a house has spent on the market trying to look for a reasonable buyer is around 3 months. The more a house is available for sale, the more the chances that the closing price will be lesser, which naturally means that sellers will be looking for closing deals even if they do not meet their interests entirely.
The capacity of buyers to negotiate prices significantly improves at the beginning of the year. A number of sellers are in a hurry to get a solid deal, and for serious buyers this is the opportunity to present an advance and secure the place.
- Holiday Season
As the holiday season picks up people are trying to find ways to finance amazing trips to different places, and for that they need money. Many sellers wish to do away with their property to divide the proceedings in a way that they are able to finance a number of things waiting. What better way than to organize a trip in the winters?
A good real estate agent will be sure to tell you to capitalize on that time of the year by researching well in advance and knowing what property you’re targeting. Getting a house for a lower price is never a deal which should be ignored.
- Diverted Focus
At the start of the new-year markets are buzzing and busy with a number of things. Be it may mid-term budgets, changes in businesses, or simply their own personal aspects, the diverted focus makes it easier to convince a seller to meet your demands.
For a buyer’s agent it is important that you are made aware of these small differences which can result in you saving a significant sum.
Worst Month for purchasing property
The transition from spring to summer, according to the average well reputed real estate agent, is a time at which people looking to budget should stay away from purchasing houses. The median price of purchase at this time is much higher, and there are several reasons for this change:
- Rate of Purchase
For people who are looking to purchase houses, a time when the house is relatively less hustling and bustling, i.e., during vacation time such decisions become easier to make. The children are not going to school, and overall activity is less, which is why moving makes a lot more sense.
These factors cause a general increase in the rate of purchase of houses during summer vacation time, and as a result the degree to which sellers will be willing to negotiate will be less. They will be assured that there are plenty of buyers out there waiting for them.
- List Price
A number of houses are entering the market and are made available in June. This is the time when their list price can be expected to be the highest. With such prices and a negotiating power that does not amount to much, it becomes difficult to convince a seller to come to terms with you in the summers. So if you are certain that you wish to save as much as possible in purchasing a house, this is the month where you minimize efforts.
To sum it up, it’s a good idea to test how well your buyer’s agent washington dc knows the market by asking him the best and worst period of purchase. This article will prepare you to not be clueless as you head out on the venture of finding the perfect residence.