Looking for a bargain on waterfront real estate? The winter is a great time to get out in the market and find motivated sellers. In addition, you can save money on other expenses like appraisals and home inspections.
We are all distracted during the wintertime. With Christmas and New Years approaching, real estate shoppers are busy with holiday shopping, decorating, and parties. It is also hard to get real estate shoppers out in cold weather to look at waterfront real estate. Therefore, your offers will have less competition.
Home sellers who didn't sell during the recent summer months are worried that their waterfront home will not sell. Any seller offering waterfront real estate for sale during the holiday season is motivated.
Real estate agents need to keep their momentum going and can't afford to take too much time off. When the agents aren't as busy, you get better service. Plus, they're more likely to take low offers seriously. Agents love investors ready to buy waterfront real estate during the winter.
Banks and mortgage brokers will usually loosen up more during the winter as well. They are affected by the real estate market just like the agent is. When applicants become few and far between, lenders will look for more creative ways to turn potential buyers into homeowners.
During the peak summer months, appraisers and home will likely be booked 5-10 days out. They can also charge more for their work because they have a steady amount of calls coming in. As the winter approaches, the workload lessens and the phone calls decrease. You can likely get the appraiser and inspector out to the property in one or two business days. Many will even work weekends if it is the difference between winning or losing the job.
So throw on your coat and start looking at those listings that are left over from the summer frenzy. Make as many offers as you can. Don't wait for the summer to come back in just to find yourself competing against all those other offers.
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