We have all been conditioned that this is our slow time in real estate. In my opinion, it is not business as usual. The economy has improved to a degree that people feel comfortable again making big ticket purchases such a homes and autos. Others have moved from negative equity in their home to positive again. Interest rates have stay at or just above record lows.
Here is the interesting part. According to CNBC, home inventory is at its lowest level in last 7 years. What this means is that good homes on the market are selling in less than 50 days and in some cases in multiple offer situations. I know this can be frustrating but the flip side is during the winter months there is less competition for the same home during the spring. Therefore, the winter maybe an opportunity in waiting. To compound the issue, the FED is considering finally raising short term rates in December. It is signal that rates will begin to come off of record lows. If you are considering buying a home, now maybe the best time due to the fact that rates have nowhere to go but up. Feel free to search our MLS or don’t hesitate to contact us.
Winter is also a great time to see how insulated a home is. In older homes, the insulation maybe old or not sufficient and you can tell right away just by looking at the thermometer setting and how long the furnace runs. In well insulated homes, the furnace only runs for short bursts and stays mostly off in my experience. If you are there an hour and the furnace ran the whole time, it maybe that the home is not insulated well.
There are so many reasons why the winter is good time to show and get ahead of the spring crowds and competition. Enjoy your holiday and hope to hear from you soon. Merry Christmas and a Happy New Year!!!
-Henri