When you think of Black Friday you probably don’t think of real estate. Instead, you think of large retailers offering great deals on clothes, Christmas presents, and electronics. You may even think about crazy crowds, lines of people and an overall headache that you want to avoid altogether- online shopping anyone!? But did you know that Black Friday marks the beginning of winter real estate deals?
During the busy holiday season the real estate market generally slows down. The average home buyer isn’t searching for a home and those who are selling are desperate to sell before the new year. Because of the market slow down banks may even offer lower interest rates and attractive terms to increase real estate demand during the slow winter months.
According to Time.com, there is an average of 10% fewer listings during the winter and homes sold during the winter months are usually purchased at an average of a 2.6% discount. Within the article, Lawrence Yun, the chief economist for the National Association of Realtors, says that buyers who make offers in November and December get the best deals. Another benefit of investing and purchasing in the winter is that investors and buyers have an opportunity to easily see what kind of condition a property is in. Buyers are able to see how pipes, insulation, and HVAC units are performing and reacting to the cold winter weather, so there are no surprises later.
Investing during the Holiday season and winter months is a great way to build your portfolio and to get a great deal. If you would like to learn more about investing or would like to invest this holiday season then hit the ‘Lets Talk’ button to schedule a free consultation. We look forward to opening your possibilities during the holiday and winter season!
*A special thanks to Time.com, check out their full article here.