Why would you want to go out in the snow and cold weather to buy a house in the winter? There are several reasons that you may consider if you are in the market for a new home.
1.Homes that are for sale in the winter have motivated sellers. They may have to move due to relocation, or perhaps they are seniors that have to move to an assisted living facility or a couple who are getting divorced. In any of these cases, waiting for the flowers to bloom is not an option. If the seller is motivated, there is more room to negotiate price, terms, or even furniture to be included in the sale!
2) There are less buyers in the winter to compete with. Many familie wait until spring because they want to close in the summer when children are out of school and they can close also before they begin a new term. Once spring hits, you will find yourself in a multiple bid situation if a house is fairly priced and is in good condition. If you can only put down 5-10% downpayment, or have to sell your condo our house before buying, you will lose out to those that are paying either cash, or have larger down payments and are ready to move.
3) Mortgage brokers are generally less busy in the winter. This can lend to quicker mortgage processes and closings.
4) Finally, real estate agents may be less busy in the winter if there are less listings to show. This way they can devote more time to your needs and be more available for showings when it is convenient for you.
Any way you look at it. If you are in a position to buy a home in the winter, you may be able to negotiate a better deal than competing with all of the other buyers in the spring. The inventory in Westchester County has definitely decreased over the last few years. Thus, when spring hits, buyers will be scrambling for houses that come on the marketplace. With buyers that I work with, I keep a hotsheet list of their needs. Once a house comes on the market, I call them that morning and try to get them in the same evening before open houses hit, and there are numerous bids.
If you are thinking of looking, now or in the spring, lets talk. I’d be happy to keep you in mind as new homes/condos/coops come on the market.
Call/text me at 914-523-5087 or email me at