Not exactly. Contrary to popular belief, it IS possible to start the home buying process during the holiday season. You just need to know what to expect. As a Northern Virginia real estate agent, part of my job is to help people find the home of their dreams at ANY time of year. I certainly make it a priority to tell my buyer clients the pros and cons of starting their search in the off-season, but know this: it IS possible. Here are a few things to expect when you enter the real estate market at this time of year:
Lower inventory. Fewer homes are listed in the Northern Virginia real estate market during this time of year, which can be one of the pitfalls of starting your home search in the off-season.
More serious buyers. While the number of homes available on the market might be a bit smaller, one of the major benefits of starting your search now is that the sellers who ARE listing their homes are serious about moving. Nobody is going to list their home in the off-season unless they are trying to move as quickly as possible. As a buyer, this puts you in a great position. It ensures that you’re entering into negotiations with a serious seller and that you can work with them to come to a mutually beneficial agreement. Sellers who aren’t as serious can be unreliable when you go under contract. In this season, however, that obstacle is less likely to become an issue.
You won’t have to compete with as many offers. Since fewer buyers will be searching for a new home during the off-season, you won’t have as much competition when you decide to submit an offer. Buying now could help you avoid a bidding war in the spring.
The holiday season is the perfect time to start over. Think about it: there’s no better time to start thinking about your future than during the holiday season! Pretty soon, people will be giving thanks, wrapping presents and listing out their New Year’s resolutions. It’s really a time when you can start thinking about making changes in your life. Having a new home provides the perfect setting for you to start improving the livelihood of your entire family.
These are just a few of the emotions, obstacles and benefits to expect if you choose to start searching for your dream home during the off-season. As a Northern Virginia real estate agent, I try to prepare my clients for their transaction as thoroughly as possible. There are several benefits to starting your home search now, but you do need to know what to expect and use the market conditions to your advantage.
If you have any questions about buying a home in the Northern Virginia real estate market, don’t hesitate to contact me! I’d be happy to guide you throughout the entire transaction, from contract to close. I hope to hear from you soon!
Earle Whitmore
Long & Foster Real Estate, Inc.
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