Why you should consider buying a home in fall or winter
There is a common misconception in the real estate industry about the existence of a “home-buying season.” The debate is not whether the season exists. Data verifies that more home sales occur in the spring and summer months, making these ideal times to sell a home.
The misconception is that the spring and summer are the best time to buy a home.
Supply and demand play a big part in whether or not a season is best for buyers or sellers. The low supply of homes and the high demand from buyers actually makes the spring and summer a better time for sellers. The best time for buyers is in the fall, as there are fewer buyers in the market.
A recent report from RealtyTrac looked through sales data nationwide over the past 15 years to find the best month and date to purchase homes. From a national perspective, October is the ideal month for buyers to receive the best deals.
When looking at a specific day to purchase a home, Dec.17 afforded buyers in the Nashville-Davidson-Murfreesboro-Franklin areas the best value.
All of this information confirms what Realtors already knew: Fall and winter are great times to buy homes. Lower competition from other buyers is the main factor that makes these seasons better for buyers. There is a natural push for buyers to get into homes prior to the start of school. We’re now in the time of year where school has started, sports are picking back up, and people are less mobile.
Buyers who are looking to purchase a home in the coming months should find encouragement in this report. Even with median prices up and homes selling quickly, the next three months present a great opportunity for buyers. Prospective buyers should contact a Realtor to get started.
Chip Kerr is 2015 Williamson County Association of Realtors President. With nearly 2,000 members, the WCAR provides support and services for area real estate professionals and is the leading voice in the community for its members, as well as residential and commercial property owners. Williamson County home buyers can visit wcartn.org to search for area Realtors.
Tip for sellers: Take photos before foliage dies
Last week served as a great reminder that the colder months are rapidly approaching. The increase in gray, dreary days is an important signal for people considering selling their homes this winter to take exterior pictures now.
High-quality photos are one of the most important aspects of selling a home. Oftentimes, the way a house looks in photos is the deciding factor for whether a buyer wants to visit the home. Can they see themselves living there? Can they picture their children playing in the yard? Does it feel like home?
The problem with winter photography is that everything is dead. If homeowners wait until the foliage falls to take exterior pictures, they weaken the power of what should be one of their strongest assets: curb appeal. Many homeowners spend thousands of dollars in lawn maintenance. Taking photos after the grass has turned brown and the leaves have fallen undervalues that investment.
Instead, homeowners who are considering selling should take the time during the next couple of weeks to prep their yards and secure high-quality outside photos. Even if they are not ready to list a home, taking these pictures now will help the home stand out later on in the winter months.
Many prospective homebuyers will spend hours on sites like Realtor.com looking at photos of homes for sale. Paying attention to the little details, like staging outdoor photos before the foliage dies, can help sellers’ secure top dollar for their home.