The phenomenon of the flash sale is relatively new, but the concept is not--it's a sale promoted quickly, and without much warning, designed to create a sense of urgency, as it will only last a limited time. Well, that happens every year in real estate! Every year, I remind buyers that the best time to buy a home is between Halloween and Thanksgiving. Sellers are thinking about heating and snowplowing through the winter, and both buyers and sellers want to start off the new year with a major financial transaction finished.
In addition to the time of year, buyers should be motivated by the fact that interest rates are usually at their lowest point right around Election Day, and this is especially true in a presidential election year. Whether it's uncertainty on the part of some, or a subconscious desire to help the party in power make the economy look good, the end result is the same--savings that will last every month for the life of the mortgage.
In New England, it's also a time of year before ice and snow make showings and open houses difficult, as well as a breather before the holiday rush sets in. For all these reasons and more, it's the best time of year to buy. And it doesn't last long. So let's call it a flash sale, and let the buying begin!
