By Amanda Pilley | The end of the year is upon us, marked by shorter days, colder (and wetter) weather, and dropping home sales. For many Alaskans, this is a time to rest and, it would seem, the housing market appears to follow suit. It is common to assume that houses don’t sell in the winter months. However, while it can be more challenging, this is the time of year when the Real Estate market sees the serious buyers. Whether you are buying or selling, here are a few reasons to brave the cold and take the plunge into the housing market:
1. November and December are great months for renters (or anyone!) to become a homeowner, because there is going to be much less competition than in the spring and summer months. In my experience, there have always been a healthy number of houses on the market in Southeast, year-round. Once spring arrives however, the moving fever hits and more folks are home shopping and listing their property, and the number of homes on the market does go up. This means more listings and more buyers to compete against.
2.Sellers might be more motivated. It’s possible that a seller has had his property on the market since the spring, and is now starting to get anxious to sell. For the buyer, this means that you could have more buying leverage as the seller might be more willing to negotiate. Check with your real estate professional and follow his or her advice when it comes time to put in an offer, as they’ll have the most up-to-date market information.
3. Everyone has more time at the end of the year, which is good news for you. Buying at the end of the year might mean that it’s easier to push your loan paperwork through your mortgage lender. Now that the busy real estate season is starting to slack off, lenders will have fewer loans to process, less paperwork, and more time to spend working with you. The same holds true of your real estate agent, as well as your moving company.
4. Waiting till the spring will probably cost you money. The fact of the matter is that we can only know what the market conditions are doing right now, not what they will be doing 6 months from now. Right now interest rates are low. Right now we know the inventory of available homes for sale. What if you’re waiting to buy, hoping there will be more options, when the sellers are waiting to sell, knowing they can likely get a better price? Take advantage of the resources that you have available to you right now to get the best deal that you can.
Regardless of the season, there really is no wrong time to sell your home, or start hunting for a new one. The best time to do it is when you’re ready!
Amanda has lived in Southeast Alaska for most of her adult life and recently moved back to Juneau for the third time. She is a graduate of Albertson College of Idaho with a degree in Creative Writing. To reach Amanda, please feel free to email her at amanda_pilley@hotmail.com.
