Winter is statistically a slow time for real estate with many people focused on shopping and spending time with loved ones. Real estate investment is not typically at the top of Mr. & Mrs. Clauses wish list, but at E&H we say it should be.
Every good boy and girl knows spring is when the market is full of new homes.
This is true and buying then is exactly what Mr. Scrooge would want you to do.
So why does Rudolph invest in homes during the winter season?
Houses for sale in the winter tend to stay on the market longer because buyers hold off on purchasing decisions, people take time off for the holidays and cold weather is not conductive to house hunting.
Sellers become anxious as each day passes because carrying costs and maintenance expenses accumulate as long as they own the home.
Sellers who keep their houses on the market during winter are often under pressure to sell.
As a buyer you can identify these homes by looking at price reductions during lean months. Special pricing or discounts are good indicators the seller is motivated to sell.
Here are a few options suggested by Entrepreneur.com
- driving around, looking for houses that look vacant, and using online public records to track down the owner
- buying a public record list using an aggregate-list site like ListSource.com
- calling mom-and-pop landlords who are listing properties “for rent” on Craigslist. Let them know you aren’t interested in renting, but you would like to talk to them about buying.
If you seek these opportunities out, you will have the upper hand over sellers who wish to leave the market.
Now as the buyer you hold the milk and cookies.
Who’s jolly now?