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OH, buying in dead of winter can be VERY advantageous for investors or bargain-hunters here. Our market is seasonal and Spring is 'hot market' season. Prices nudge up and sellers are more confident they'll get their price. Our watersports enthusiasts will pay a premium 'to get on the River by Fourth of July'.
That special home that is priced right, ready to go and has your name on it is now waiting for you to show up...SHOW UP THEN and claim it for your own
Richie Alan Naggar
There are less buyers in the market now than there will be in the spring. The inventory is ramping up so buyers can have a good selection now with a little more negotiation power. Interest rates having spiked yet and are still very affordable.
One big advantage will be that you'll be all settled into your new home by the time spring rolls around.
Any season is a good time to buy, or sell.
This is an easy one. Interest rates are definitely low right now and I can't predict the future.
Supply and demand! Less demand, lower price. Once Spring has sprung, prices will rise!
Usually the spring & summer experiences LOTS of multiple offers, and typically this time of year we don't as many.
Less completion and more time to negotiate better terms.
William Piotrowski - well, less competition is what I can think of - along with motivated sellers (since their homes are still on market!)
Interest rates may be higher in the Spring. There is less competition right now. If you wait til Spring, you are not the early bird and you know the rest of that story.
We know what the interest rate is now. We don't know what it will be in the spring.
You'll be in the home by spring!
There are less buyers and therefore less competition. Also the house you really want may be on the market. You just never know.
Simply supply and demand. Demand goes higher then prices go higher. Buy now if you find the right home.
Sellers may be more motivated who are listed now, but there is less to choose from. Spring will bring a lot more to the market.
William Piotrowski my most recent post addressed this subject. What do you think of it?
Take advantage of the low mortgage interest rates that may be higher in the spring.