Hi Everyone, thank you for tuning into another LC Real Estate educational video. Today’s video is “Why Winter Real Estate is Hot!” and we are going to be discussing why, for motivated buyers, November to February is one of the best times to buy real estate. If and when you are looking for real estate, swing by LC Real Estate.ca for industry changing Home Search tools and amazing educational videos for buyers and sellers.
When the snow is blowing and wind chills are in the -30s, many people do not want to leave the home unless they have to. This means, that many homes and open houses are not getting the high levels of traffic that are seen in Spring and Fall Markets. Less traffic on the home means that there have been less interested buyers walking through the home, with less interested buyers there will be an excellent chance that you can avoid the bidding wars that have become the norm in hotter markets. When I’m listing a home and receive an offer, the first thing I do is call everyone single person that has walked through my client’s door. By doing this, I determine if there is other interest and if there is, then I can create a multi offers for my selling client. If there are less people to call, then the lower the chance of another buyer putting your offer into competition. Being the only offer in front of a seller is a huge advantage.
The cold weather also means that real estate just moves slower. If you found a home on LC Real Estate. Ca and it has been listed on the site for over 30 days, this means that it is now past the average days on market. Since the majority of viewings on the home happen within the first 2 weeks of listing the home on market, you will find that as days tick on, viewing will decrease. With fewer viewings, you will find that majority of sellers are willing to work harder with buyers to try to find a reasonable deal that works into a win win for both parties as the fear of not having that offer work out could mean longer weeks on market with decreased viewings. The pressure is really put on if the seller has already purchased a home and your offer will really stand out if you are flexible with the closing date.
Every spring, home owners and realtors push the envelope on home prices, so my final reason why I love winter is because you get fall prices or better. I had several clients this year that sold in the winter and moved into larger homes. These clients used are superior selling systems and sold their homes for records prices that still stand 8-10 months after the sale and bought homes that have already increased in value by 3-5% during the same period. If these clients waited until the spring market, they would have had more viewings on their homes, but more competition from similar homes while selling and more competition from interested buyers when buying. These clients brought some hot chocolate, put on their winter gear and ventured out into the cold, and by doing this saved 10’s of thousands of dollars by buying and selling this way.
Real Estate changes day to day, season to season, and being on top of the market changes makes all the difference. By leveraging low amounts of traffic through a home and viewing homes that have been on the market for a few weeks will put you, the buyer in a much stronger position when negotiating. All these advantages are effected by the others party’s motivation. If the seller needs to sell, then they will and it goes the same for the buyer. The important part is that you have several strategies, and a clear understanding of how to implement these strategies. If you want to stay on top of the market, visit LC Real Estate for our Mississauga Real Estate Market Updates, our Educational Videos and our Amazing Home Search tools. I am Mike Elsey and I am your Real Estate Resource for Mississauga and Surrounding areas. Call, Text, Email, Facebook, Tweet, Bat signal, I’m here to help. Thank you for watching.
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