Saturday, February 20, 2010

Better to buy house in winter than summer?

I'm planning to buy a house this coming summer, but my friend suggests that I wait until Winter. He said even in a stable market, houses are usually cheaper in Winters than Summers. Base on your experience, is this good advise? And why?





P.S. I plan to buy in Southern CaliforniaBetter to buy house in winter than summer?
In the spring the flowers are in bloom and houses look their best. Maybe not in Southern California but most places. Parents like to move between the end of the school year and the start of the next so are most likely to look two months ahead of that so April-June. Home owners know there are more buyers so are optimistic. When the home has been on the market from March to September with no offers the sellers are tired of trying to sell. By Christmas they are sad any offer coming between Nov and Christmas will be welcome. Wait past Feb and they will be thinking they have a fresh start.Better to buy house in winter than summer?
Market conditions change all the time. This is the major factor. Right now prices are going down. Two years ago there were steadily rising.


The minor factor is time of year. Generally people reduce or stop buying homes in December. The time to buy in when no one else is buying so December is better than April. The time to sell is when there are bidding wars on houses.
In general, winter is better for buying. The best HUD deals I've sold have been the weekends before and after Thanksgiving and Christmas.

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