When's a better time to buy a house

I heard that there are better bargains during winter and summer in terms of buying a house, but between winter and summer, which is better?

It doesn't matter what season it is what DOES matter is the housing market. Right now, for instance, so many homes have gone into foreclosure that there are alot of good bargain prices on those homes.

usually houses are cheaper in winter because not many ppl like to move .. but there are many factors influencing the house prices. you shouldnt overlook them

From Dec, 1 until Jan, 5 seems to be the period when the buyer has the most control.

Just think, how many people are house shopping? Very few, they are Christmas shopping instead.

Then there is a period in mid to late February when people see their first charge card bill after Christmas. That too will keep buyers off the streets.

Winter around Christmas time is one of the best times to buy homes. The Real Estate Market is great right now due to all the foreclosures, because many people financed their home with adjustable rate mortgages and now the rate is adjusting to high for them to manage. Go with a fixed interest rate on your home mortgage. Do your homework first and get pre-approved for your home loan that will give you leverage in buying and able to negotiate the best home price. Best Wishes and Welcome to The Wonderful World of Real Estate!

As a rule it has been in the winter, but right now it is a buyer's market and the deals are every where. Values are down about ten percent nation wide and wait until about spring of 2008 and they will be even better. Probably even better this time next year. The market is really down and it has not hit bottom yet. Good luck.

As a Realtor it has been my experience that winter is a better time to buy houses at a bargain than during the summer. Why? People who put their homes up for sale during the cold months of winter do it because they have to sell. Reasons can range from job transfers to age or health reasons. Because they have to sell, these owners will negotiate from positions of weakness which is a plus for the buyer. In the end, the buyer can get a good bargain.

The same is not necessarily the same in the summer. Granted, some people sell because of job transfers and for health reasons, but more people sell because they want a different house or are downsizing or they want to pull equity out of their homes while more buyers are out there looking to buy. These "fair-weather sellers" are not in a panic to sell and usually won't give you a bargain.

But just like everything we do in life, there are positives and negatives. In house buying in winter, the positive is the availability of bargains. The negative is the lower number of properties on the market. You may find a good bargain, but if the property isn't what you want, you gain nothing.

If you buy near Christmas you will have much less to chose from, but if there is one you like you may can negotiate hard (There won't be many buyers competing with you).

If you buy right about the time school starts it is much the same. Not very many buyers and the sellers may be desperate.

In the spring there are a lot more buyers competing with you but there are a lot more sellers also. It may be easier to find one you like.

The guys that get the best bargains are those "we buy ugly houses" people. They will buy anything if the price is cheap enough, they don't care and they will close on it within days. So sellers that are in a hurry will sell to them just to get it over with. The more you emulate those investors the better the deal you will get. Arrange your financing and offer to close quick-find someone that is desperate and doesn't have a nice house that would attract a bunch of buyers.

Ah, glorious spring, a time for fresh starts and positive change.

From coast to coast, for-sale signs crop up like wildflowers on the lawns of subdivisions. Moving sales proliferate. Moms and dads box up their possessions and ponder what awaits them on a new block or in a new town. Kids finish out semesters, wary that a different school culture and a new set of friends await them in fall. It's a rite of spring and early summer in our transient society.

It's a time when real estate salespeople get lightheaded from make-hay fever, as buyers and sellers come out in full bloom.

But is it always the best time to buy or sell a house?

That's a definite maybe, say experts. Like most buy-sell situations, it all depends on motivations.

Indeed, April through July outpace the balance of the year in sales, historic data at the National Association of Realtors indicates. So there'll surely be more home inventory and variety then. But you better move fast, because that's just what other home hunters are doing.

Many buyers apply their income tax refunds toward down payments, adding to the spring push.

While the buying frenzy stays steady through most of the summer, it falls in early fall.
It usually drags for a month or so, then escalates briefly again around October. Some of that second spike is attributed to sellers who were overly optimistic pricers in the spring, but who have grudgingly decided to make concessions in the fall.

Some seasonal house-hunting hints:

Be a contrarian. True, there's a greater choice of homes in the spring, but sellers then can better hold to their asking prices because of demand.

Off-season dealing: Sellers in late fall and early winter, especially between Thanksgiving and New Years Day, are often more motivated to deal, real estate agents say.

Window at summer's end: Sometimes, late summer opens a small window of leverage for buyers dealing with sellers of slow-moving family homes.

Some sellers can wait you out: Empty nesters and single sellers will always account for some off-peak housing stock, but they're often less motivated to sell quickly.

Heed non-cycle or short-cycle markets: Parts of Florida, Colorado and California and other regions of the country that have large resort areas or large numbers of retirees and semi-retirees, don't follow the traditional sale season. Winter resort areas peak in sales between January and April, according to agents. In northern climates, the wintry elements can compress the annual peak seasons more to their warmest-weather months.

Tax timing: It can play a role if you plan to buy late in the year. Determine through a tax preparer if the deductions will better fit in the current or future year. If need be, try to close Dec. 31 rather than Jan. 2, or vice versa. (Be sure you know which items of your closing will be tax-deductible and which will be added to the value of the property.)

Opportunism: While it may sound ghoulish, layoff announcements or a planned corporate headquarters move in some markets can soon result in more homes on the market for the short term with a variety of price points and some motivated sellers. Proceed with sensitivity.

Home-buying "seasonality" can vary from market to market and may be slowly shifting, say trend trackers. In recent years, January has seen record or near-record sales for the month, says National Association of Realtors researcher Walter Molony. A buyer's market in a city will mean more inventory is available year round, while a seller's market, generally driven by local employment opportunities, can winnow peak seasons significantly

However, most agents agree on the seasonal axiom that homes generally sell for 3 percent more than the annual average during the months of May and June, at or around the average annual price in very early spring and in fall, and then drop 3 percent below the average annual price in December and January.
A few other seasonal-selling strategies:

Sell to a larger market: In most areas, May, June, July and August are considered the high-volume closing months, with about 40 percent of all homes selling during that four-month period.

The sooner, the better: While deed transfers do peak between May and August, most of those sales were actually arranged from one to three months earlier. It takes time to close home transactions.

Holding out: Your wait could be a long one. A home priced unreasonably high can be hard to sell in any season, particularly in a buyer's market. Industry stats show homes with price tags 5 percent above market value have a 10 times greater chance of selling than those priced 15 percent above market.

Reduce selling stress: Placing your home for sale as far in advance of buying the new one as possible will help remove one component out of the already complicated sales equation. You don't want to wind up juggling two mortgage payments in addition to the other exasperation associated with home selling. But don't tarry too long in visiting your targeted buying area, lest you miss its peak inventory season. (You may have to send your spouse out as a scout while you hold down the home fort.)

Get inside the buyer's mind: See seasonal house-hunting tips (above) and adjust strategies accordingly.
Buyers and sellers should also note that an estimated 60 percent of all moves in America take place in summer, so book as early as possible, especially if you have a clear closing date. Many movers advise that home buyers/sellers call for an estimate at least 60 days in advance of a move.

Even with reliable spring sales peaks, the Internet has added a non-seasonal dimension to the home-buying mindset. Virtual tours, accompanied by a wealth of neighborhood, school and civic data, can speed along the decision-making process well before a prospective home buyer hits town.

In markets such as weather-friendly Southern California, seasonal factors play a much smaller role in home-inventory turnover, agents say.

In some areas the Real Estate market has seasons, in some areas it don't. Here in Southwest Florida the best time to buy is during the summer, the best time to sell during spring and winter.
Monika

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