![\"winter](\"https:\/\/dlzx9e7gl8jc4.cloudfront.net\/trulia\/wp-content\/uploads\/sites\/1\/2017\/11\/winter-real-estate-c56097.jpg\")
<\/p>\nPlanning on buying in the off-season? Arm yourself with strategies from the pros.<\/h2>\n\n\n\nRainy open houses and icy walkways make shopping for a home in winter less of a thrill than in the busy spring and summer months. But there are some distinct advantages (as well as some downsides) to shopping in the off season. If you\u2019re thinking of buying a home in the next few months, you\u2019re probably wondering what to expect from this year\u2019s winter real estate market. One thing is for sure: Taking your high-season strategies into a low-season game will not serve you well. Here\u2019s what you need to know to adjust your thinking to this winter\u2019s realities.<\/p>\n<\/div>\n<\/div>\n<\/section>\n\n\n7 Essential Truths About the Winter Real Estate Market<\/h2>\n<\/header>\n\n\n1. It\u2019s slim pickings out there.<\/h2>\n
There are fewer homes on the market in winter than at other times of the year. And in cities where winter means lots of snow and ice, the decrease is even more dramatic. In Denver, for instance, there are only about one-third as many homes for sale in winter as in spring or summer, says Denver real estate agent Jani Bielenberg<\/a> of Bielenberg & Associates.<\/p>\nAnd this year, the inventory crunch is even worse. Home inventory is now at a post-recession low<\/a>, down 9.1 percent nationally in the third quarter compared to a year ago, according to Trulia\u2019s research<\/a>. And this winter isn\u2019t shaping up to break the trend, so buyers in many markets should be prepared for slimmer pickings. If you\u2019re committed to buying this winter, it may be time to widen your idea of what your dream home looks like or which block it\u2019s on.<\/p>\n2. But starter home buyers have a bit more to choose from.<\/h2>\n
For first-time buyers, though, the outlook in winter is sunnier. The inventory of less-expensive starter homes actually increases by about 7 percent in the last three months of the year compared to the spring, Trulia research<\/a> shows. And the bump is widespread: 70 of the largest 100 metros see peak annual starter home inventory in the fourth quarter. That influx of homes for sale leads to listing prices that are about 4.8 percent lower in\u00a0the first quarter of the year than in summer.<\/p>\nAll of this can make winter a great time to shop for a starter home. But even with the seasonal bump, choices will be limited this year, when inventories are unusually low<\/a> across all home types and the number of starter homes for sale is about 20 percent lower than at the same time last year.<\/p>\n\u201cThe takeaway here,\u201d explains Ralph McLaughlin, Trulia\u2019s head economist, \u201cis that even though starter home inventory is now at the lowest count since we first started keeping track in 2012, starter home buyers should be able to find consolation at the end of the year.\u201d<\/p>\n
3. Open houses and bidding wars chill out for the season.<\/h2>\n
The upside of shopping in winter is that many would-be buyers call it quits till spring. That means less competition, a welcome reprieve for those disheartened by packed open houses<\/a> and seemingly unwinnable bidding wars.<\/p>\nIn Sacramento, for example, open houses this summer attracted 50 to 100 shoppers, and solid listings often received up to 10 offers, says agent Elizabeth Weintraub<\/a>\u00a0with Lyon Real Estate in Sacramento. In winter, that\u2019ll drop to more like a dozen open-house shoppers and maybe two or three offers, maybe just one. There may even be time to visit a house more than once before making an offer, she says, which definitely wasn\u2019t often the case this past summer.<\/p>\nTo hit the market at its absolute slowest, aim for the weeks right around Christmas, when buyers more or less evaporate.<\/p>\n
4. Sellers are ready to make a deal.<\/h2>\n
Many realtors advise their clients to wait until the spring and summer rush to sell. So homes that are on the market in winter often have motivated owners who cannot wait that long. These homes, especially those that failed to sell in the fall and are still on the market, may be ripe for a lowball offer.<\/p>\n
\u201cThere is opportunity,\u201d says Denver agent Bielenberg. Especially if you\u2019re up for some renovation. Realtors sometimes encourage homeowners who haven\u2019t updated homes in a while to put them on the market in winter, when they face less competition from snazzier homes. So, if you can look past oak cabinets, white tile counters, and worn carpets, you may find a home with good bones, fewer bidders, and a tempting price.<\/p>\n
5. FHA buyers have a better shot at a winning bid.<\/h2>\n
With fewer shoppers in the market, prospects brighten for buyers with an FHA loan<\/a>. These loans, backed by the Federal Housing Authority, have looser requirements than conventional loans, making them less appealing to home sellers who are getting all-cash offers or conventional loan buyers with big down payments. But with fewer winter bidders, home sellers often become more amenable to FHA buyers.<\/p>\n6. Home inspections may not tick every box.<\/h2>\n
In winter, home inspections<\/a>\u00a0may be more notable for what they don\u2019t include than what they do. The air conditioning cannot be tested in cold weather, and snow may cover the roof. Also, are those trees just dormant or are they actually dead? Be aware of the gaps in the inspection and pay close attention to the age and type of the roof and air conditioner. If you\u2019re concerned about the trees, an arborist can assess their health in any season of the year.<\/p>\n7. Interest rates are still stable, but some predict they\u2019ll rise.<\/h2>\n
Interest rates shift more with economic conditions and policy decisions than with the seasons. And rates have been so stable, hovering around 4 percent all year, that \u201chardly anybody ever mentions them anymore,\u201d says Lori Hicks<\/a>, an agent with Hicks Elite Realty Professionals in Columbus, Ohio.<\/p>\nBut don\u2019t get too complacent. The Federal Reserve<\/a> recently hinted at future increases, and the Mortgage Bankers Association<\/a> has predicted that the Fed will raise rates in December and three times in 2018, though they also predict that 30-year-mortgage rates will remain below 5 percent throughout the year. It\u2019s wise to watch this closely. If rates rise while you\u2019re house-hunting, it can make a real difference in what you can afford.<\/p>\n![\"Empire](\"https:\/\/empireappraisalgroup.com\/wp-content\/uploads\/2014\/04\/best-South-Florida-appraiser-300x73.jpg\")
<\/a><\/p>\nAbout Empire Apprais<\/em>al Group, Inc.<\/em><\/p>\nEstablish in 2005, Empire Appraisal Group, Inc., is Broward County\u2019s\u00a0leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times.\u00a0 When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience.\u00a0 Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and\u00a07,000+ appraisals to his credit.<\/em><\/p>\nWe\u00a0\u2018specialize\u2019 in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO\u2019s and more.<\/em><\/p>\nWe also work closely with realtors\u00a0to help establish listing prices, these pre-listing appraisals ensures sellers\u00a0get\u00a0top dollar for their home.<\/em><\/p>\nIn addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as\u00a0specialty properties. No job is too big or too small, from manufactured homes to mansions.<\/em><\/p>\nCall Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. \u00a0Also, check out our \u2018Reviews<\/a>\u2019 page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.<\/em><\/p>\nWe provide residential appraisal services to all cities in Broward County:\u00a0 Parkland<\/a>, Coral Springs<\/a>,\u00a0Coconut Creek<\/a>, Dania Beach, Cooper City<\/a>, Davie<\/a>, Deerfield Beach<\/a>, Fort Lauderdale<\/a>, Sunrise<\/a>, Hallandale Beach, Hillsboro Beach, Hollywood<\/a>, Lauderdale by the Sea,\u00a0Lauderdale Lakes, Lauderhill, Lighthouse Point<\/a>, Margate<\/a>, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach<\/a>, Sea Ranch Lakes, Tamarac<\/a>, Weston<\/a>, Wilton Manors.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n
Rainy open houses and icy walkways make shopping for a home in winter less of a thrill than in the busy spring and summer months. But there are some distinct advantages (as well as some downsides) to shopping in the off season. If you\u2019re thinking of buying a home in the next few months, you\u2019re probably wondering what to expect from this year\u2019s winter real estate market. One thing is for sure: Taking your high-season strategies into a low-season game will not serve you well. Here\u2019s what you need to know to adjust your thinking to this winter\u2019s realities.<\/p>\n<\/div>\n<\/div>\n<\/section>\n There are fewer homes on the market in winter than at other times of the year. And in cities where winter means lots of snow and ice, the decrease is even more dramatic. In Denver, for instance, there are only about one-third as many homes for sale in winter as in spring or summer, says Denver real estate agent Jani Bielenberg<\/a> of Bielenberg & Associates.<\/p>\n And this year, the inventory crunch is even worse. Home inventory is now at a post-recession low<\/a>, down 9.1 percent nationally in the third quarter compared to a year ago, according to Trulia\u2019s research<\/a>. And this winter isn\u2019t shaping up to break the trend, so buyers in many markets should be prepared for slimmer pickings. If you\u2019re committed to buying this winter, it may be time to widen your idea of what your dream home looks like or which block it\u2019s on.<\/p>\n For first-time buyers, though, the outlook in winter is sunnier. The inventory of less-expensive starter homes actually increases by about 7 percent in the last three months of the year compared to the spring, Trulia research<\/a> shows. And the bump is widespread: 70 of the largest 100 metros see peak annual starter home inventory in the fourth quarter. That influx of homes for sale leads to listing prices that are about 4.8 percent lower in\u00a0the first quarter of the year than in summer.<\/p>\n All of this can make winter a great time to shop for a starter home. But even with the seasonal bump, choices will be limited this year, when inventories are unusually low<\/a> across all home types and the number of starter homes for sale is about 20 percent lower than at the same time last year.<\/p>\n \u201cThe takeaway here,\u201d explains Ralph McLaughlin, Trulia\u2019s head economist, \u201cis that even though starter home inventory is now at the lowest count since we first started keeping track in 2012, starter home buyers should be able to find consolation at the end of the year.\u201d<\/p>\n The upside of shopping in winter is that many would-be buyers call it quits till spring. That means less competition, a welcome reprieve for those disheartened by packed open houses<\/a> and seemingly unwinnable bidding wars.<\/p>\n In Sacramento, for example, open houses this summer attracted 50 to 100 shoppers, and solid listings often received up to 10 offers, says agent Elizabeth Weintraub<\/a>\u00a0with Lyon Real Estate in Sacramento. In winter, that\u2019ll drop to more like a dozen open-house shoppers and maybe two or three offers, maybe just one. There may even be time to visit a house more than once before making an offer, she says, which definitely wasn\u2019t often the case this past summer.<\/p>\n To hit the market at its absolute slowest, aim for the weeks right around Christmas, when buyers more or less evaporate.<\/p>\n Many realtors advise their clients to wait until the spring and summer rush to sell. So homes that are on the market in winter often have motivated owners who cannot wait that long. These homes, especially those that failed to sell in the fall and are still on the market, may be ripe for a lowball offer.<\/p>\n \u201cThere is opportunity,\u201d says Denver agent Bielenberg. Especially if you\u2019re up for some renovation. Realtors sometimes encourage homeowners who haven\u2019t updated homes in a while to put them on the market in winter, when they face less competition from snazzier homes. So, if you can look past oak cabinets, white tile counters, and worn carpets, you may find a home with good bones, fewer bidders, and a tempting price.<\/p>\n With fewer shoppers in the market, prospects brighten for buyers with an FHA loan<\/a>. These loans, backed by the Federal Housing Authority, have looser requirements than conventional loans, making them less appealing to home sellers who are getting all-cash offers or conventional loan buyers with big down payments. But with fewer winter bidders, home sellers often become more amenable to FHA buyers.<\/p>\n In winter, home inspections<\/a>\u00a0may be more notable for what they don\u2019t include than what they do. The air conditioning cannot be tested in cold weather, and snow may cover the roof. Also, are those trees just dormant or are they actually dead? Be aware of the gaps in the inspection and pay close attention to the age and type of the roof and air conditioner. If you\u2019re concerned about the trees, an arborist can assess their health in any season of the year.<\/p>\n Interest rates shift more with economic conditions and policy decisions than with the seasons. And rates have been so stable, hovering around 4 percent all year, that \u201chardly anybody ever mentions them anymore,\u201d says Lori Hicks<\/a>, an agent with Hicks Elite Realty Professionals in Columbus, Ohio.<\/p>\n But don\u2019t get too complacent. The Federal Reserve<\/a> recently hinted at future increases, and the Mortgage Bankers Association<\/a> has predicted that the Fed will raise rates in December and three times in 2018, though they also predict that 30-year-mortgage rates will remain below 5 percent throughout the year. It\u2019s wise to watch this closely. If rates rise while you\u2019re house-hunting, it can make a real difference in what you can afford.<\/p>\n About Empire Apprais<\/em>al Group, Inc.<\/em><\/p>\n Establish in 2005, Empire Appraisal Group, Inc., is Broward County\u2019s\u00a0leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times.\u00a0 When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience.\u00a0 Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and\u00a07,000+ appraisals to his credit.<\/em><\/p>\n We\u00a0\u2018specialize\u2019 in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO\u2019s and more.<\/em><\/p>\n We also work closely with realtors\u00a0to help establish listing prices, these pre-listing appraisals ensures sellers\u00a0get\u00a0top dollar for their home.<\/em><\/p>\n In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as\u00a0specialty properties. No job is too big or too small, from manufactured homes to mansions.<\/em><\/p>\n Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. \u00a0Also, check out our \u2018Reviews<\/a>\u2019 page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.<\/em><\/p>\n We provide residential appraisal services to all cities in Broward County:\u00a0 Parkland<\/a>, Coral Springs<\/a>,\u00a0Coconut Creek<\/a>, Dania Beach, Cooper City<\/a>, Davie<\/a>, Deerfield Beach<\/a>, Fort Lauderdale<\/a>, Sunrise<\/a>, Hallandale Beach, Hillsboro Beach, Hollywood<\/a>, Lauderdale by the Sea,\u00a0Lauderdale Lakes, Lauderhill, Lighthouse Point<\/a>, Margate<\/a>, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach<\/a>, Sea Ranch Lakes, Tamarac<\/a>, Weston<\/a>, Wilton Manors.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n7 Essential Truths About the Winter Real Estate Market<\/h2>\n<\/header>\n
1. It\u2019s slim pickings out there.<\/h2>\n
2. But starter home buyers have a bit more to choose from.<\/h2>\n
3. Open houses and bidding wars chill out for the season.<\/h2>\n
4. Sellers are ready to make a deal.<\/h2>\n
5. FHA buyers have a better shot at a winning bid.<\/h2>\n
6. Home inspections may not tick every box.<\/h2>\n
7. Interest rates are still stable, but some predict they\u2019ll rise.<\/h2>\n
<\/a><\/p>\n