As I put on my first long-sleeve shirt of the season to go running this morning, I reflected on what the changing weather means for real estate. Although spring is the traditional listing and buying season, based on the school year schedule, Labor Day brings a bump that lasts until about Thanksgiving. For sellers, the first time that they think about heating a home that's empty, or one that's too big, they also begin to worry about freezing pipes, snowplowing, and all the downsides of winter. We are not unaccustomed to getting calls from sellers, who previously had been saying that they were not in a hurry and didn't have to sell, asking why there have been no offers. At that point, they are often willing to get serious about pricing their property to move quickly. Of course, we remind them that they have a window before winter, which is quickly disappearing.
If you are a buyer, this is when you should be serious also. It can take longer to close during holiday season, so don't take too long to make your offers and sign your contracts. The end of the year is rapidly approaching. Take advantage of this time to buy a great home at a good price with a low mortgage rate!
