5 Top Times to Buy a House

Everybody is about timing the market and often times I am asked, “When is the best time of the year to buy a home?” The top two days are ones that a person would never even think about wanting to make an offer, but believe it or not, it can be a very successful moment.

Every spring, as flowers begin popping through the dirt, we get very busy with homes coming on the market, as well as buyers looking for homes.  Almost as soon as the For Sale signs are mounted on the posts, our phones are ringing off the hook with people wanting to go see homes.

There is nothing like a spring real estate market. Fax machines are jammed up, emails come pooring in, the conference rooms are booked with buyers and sellers, and every agent has decided to show up to work.

Everybody wants a deal, and everybody wants to sell. Typically the marketplace is flooded with inventory. There is more on the market in the spring than any other time of the year.  Do you think that makes it a good time to buy?

Actually, I think you’ll be suprised to find that the lowest prices and  best deals come to those of you that buy in the winter months.

  1. Christmas Day:  Almost nobody looks at homes on Christmas Day. However, buying on Christmas Day is a smart move. If you scout out the homes on which you’d like to make offers just prior to Christmas, you’ll be better positioned. You may ask “Why is Christmas Day so attractive?”
    • People are in good moods, celebrating, opening presents, enjoying family.
    • People are more inclined to be generous, even if it means coming down on the price. “Hey, it’s Christmas, hon; just sign it.”
    • Few buyers are out looking at homes during Christmas week, so the chance of multiple offers or any competition whatsoever is very low.
    • Home prices are at a 12-month low in December.
    • If a person has their home on the market over Christmas, that person is definitely serious about negotiating and selling that home. You can bet on it. Better yet, why not write an offer?
  2. The First Snow: People don’t want to get out and look at homes when it snows, so the competition is little to none.  Keep in mind this is the winter time, so the people that are selling their homes are generally the people that are very serious.  They tend to be Short Sales or Bank Owned for the most part.  The trick to this is that the investors that own the loan for the banks will panic.  When they hear snow, they think about the risk of pipes freezing, water damage, etc.  This will often times allow them to take a considerable low offer, preferrably with a fast closing date.
  3. Easter Sunday: This is one of the few days that you’re going to get a great opportunity to buy in the Spring.  If you can get past any religious beliefs you have and are willing to get out and look at homes on Sundays, Easter is going to be a great choice for you.  People are with families, flowers are blooming, and things are so cheerful.  This brings out good moods, and once again, your competition is low to none.
  4. Thanksgiving: Once again, another family holiday making a great choice for getting out while the competition is low and investors are beginning to realize the risk of winter, right around the corner.  People are with their families on this day, and several have given up until spring is here, again.
  5. The Day You Find the Perfect Home: Last but not least, any day can be the best day to buy a home.  I’m not saying that you should buy a home just to buy a home.  I’m saying that if you do your homework, you’re going to find a great deal on any of those days.  However, when the perfect home comes along, you should be ready to jump on it, because homes are once again selling with multiple offers.  Rates are at record lows, along with prices approximately down to where they were in September of 2004.

Of course, the key to all of these options is to find a real estate agent who will a) work on holidays and b) be aggressive enough to worm their way into the seller’s home without batting an eyelash. Those agents are out there, and I’m one of them, If ever I’m not able to help, I have a team of agents willing to work on holidays and snow days, or just about any day of the year.  The only thing you need to do is pick up the phone to give us a call.

 

Thanks for reading our Real Estate Blog!

Posted By: David Berg – Puget Sound Real Estate Agent

Office: 253-234-4289 Cell: 253-370-9449

 

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How To Strengthen Your Offer With a Home Inspection

No one likes to waive their home inspection since this is what tells you whether or not you’re getting a diamond or a lump of coal when you purchase your home. Some people feel it’s very important to get the inspection because this will tell them everything that is wrong with their house.  Others feel that they know enough about home repairs that they can do the work themselves.

Getting the home inspection is something for the buyers to decide upon.  As an agent, it is our responsibility to always advise you to seek the expertise of a home inspector. It is true that asking for the inspection causes grief and worry for the sellers.  Therefore, when it comes down to multiple offer situations, as it has been lately, some buyers will waive the inspection feeling they can do the work themselves.  Other times, they don’t want to fork out the cost of the inspection (generally between $300 up to $500).

As I often times tell my buyers, the inspection is my chance, as a real estate agent, to stay honest.  It is the inspectors job to tell you the worst about the home and truly pick it apart.  A good inspector will also offer you solutions and suggestions for any problems that are found.

It’s frustrating when you ask for the inspection and the competing offer beats you because they waived their inspection.  No doubt!  There are some ways around this though, as I’m about to explain below:

  1. Prior to mutual acceptance  :: If you are in love with the house, you can waive the inspection and hire your inspector to come in prior to the mutually accepted offer.  There is some risk to this, though.  If your offer is beat, you will also be out the cost of the inspection.  Some may say this is worth getting the home and not having the inspection to find out later that the sewage system does not work, costing the new home owners $20,000 or more in repairs
  2. Spend time doing your own inspection :: A lot of people are confident enough to do the inspection themselves.  If they are a contractor, or have ever built a home, they know a lot about the industry and feel comfortable with doing their own inspection.  There are forms online that you can use as a checklist. Sometimes they have a friend that is in the industry and knows enough, too.But I don’t recommend this. First of all, you need to think about everything that is involved in the inspection and make sure you’re ready, willing, and able to do these things.
  3. Ask for a pre-inspection :: Sometimes sellers will have a pre-inspection done prior to lising their home.  If so, your agent can generally tell you this because it will be listed on the MLS.  If so, you can ask for a copy of that inspection report, which the sellers may want you to pay for.  It is the inspectors fiduciary responsibility to be honest truthful about the inspection, regardless of whether they are doing it for the buyer or seller.
  4. Just get the inspection :: I am a firm believer that buyers should not miss the opportunity to do the inspection.  When they waive their inspection, they are taking on a huge risk, and if there are any foundational, roof, structural, or systems (sewer, water, electricity, or gas) issues, these can be quite costly to the new home owners.  This is also the time for the buyers to take a swing at the cost of the house and ask the seller to pay for the fix-ups or reduce the price of the home.  This is also one of the major contingencies that buyers will have to walk away from the property and keep their earnest money.

Whatever choice you make, you are picking a good time to buy a home.  So many homes are on sale right now, and are sitting at discounted prices, while rates are the lowest they have been in years.  Present a strong offer and you should be able to find a great house, while still getting the inspection.   Happy House Hunting!!!

Thanks for reading our Real Estate Blog!

Posted By: David Berg – Puget Sound Real Estate Agent

Office: 253-234-4289 Cell: 253-370-9449

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Home Sales Step Up Although Prices Fall = Buyers Market!

Happy Halloween everybody! October’s housing activity had both tricks and treats. While pending sales were up almost 21 percent from a year ago, prices were down almost 11 percent area-wide compared to a year ago, according to the latest report from Northwest Multiple Listing Service.

Sales in Pierce County rose 12.15 percent (757 vs 675), but the median price was 16.26 percent lower than a year ago ($180,000 vs $214,950).

In Thurston County sales increased 6.99 percent (245 vs 229), but the median price fell 6.25 percent ($210,000 vs $224,000).

Mason County saw sales increase only 4.17 percent (50 vs 48) and the medium price fell 14.55 percent ($145,000 vs $169,681).

Sales in Lewis County rose 18.75 percent (57 vs 48), but its medium price was 4.72 percent lower ($145,255 vs $152,450).

Thanks for reading our Real Estate Blog!

Posted By: David Berg – Puget Sound Real Estate Agent

Office: 253-234-4289 Cell: 253-370-9449

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