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Today’s Smart Investor tip originates from personal finance reporter Marcie Geffner at Bankrate.com.
While most individuals do not think of holidays as a good time for house-hunting, Geffner says that might be simply need to do it. Less competition with other buyers and even more desperate sellers can indicate a great deal. She discusses why below:
Sellers often prevent the end of the year due to the short days, wintry weather condition and traditional wisdom that states buyers are otherwise occupied, states Tim Deihl, associate broker at Gibson Sotheby’s International Realty in Boston. But those who do decide to sell at year-end are frequently under pressure and highly motivated to cut an offer.
‘A seller who’s aiming to move a piece of realty during the vacations is a seller who’s to offer, since no one in their right mind would choose that as most hassle-free time to list their residential property,’ Deihl says.
And that’s why year-end might be a clever time to buy: Figured out house-hunters can benefit from sellers’ urgency.
Shopping off-season might provide you a negotiating edge, however Geffner states downsides include a restricted supply of residences and less mindful real-estate brokers, because they’ll likely be focused on their own holiday plans.
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