The Best Deals on Homes Come in December and January. Are You Ready?

Ya’ think buying a home during or after the holiday season is the worst time ever? Think again.

You’ll likely earn the best deal on a property if your purchase and escrow-closing dates land somewhere approximately near the Dec. 4 – Jan. 26 period according to a new analysis by real estate data provider ATTOM Data  Solutions. Getting as close as possible to these dates will help.

But as you venture forward this winter, don’t let the news cycle kill your optimism. There’s a historically low number of homes for sale on the market — and that’s okay. Knowing how to maneuver through a seller’s market is all the guidance you need, along with the reliable mortgage and homebuyer experience offered by your local Colorado Springs lender, Benton Capital:

• In reality, there are many homes for sale over the entire winter season. A desirable home that was snapped up by another buyer today just means another property is coming online tomorrow. Several homes are in the listing pipeline and have not been posted yet. Ride the housing market’s seasons with a patient perspective, and be prepared for anything on any given week.

• Become an expert at picking winners as you look at home listings online. It takes a special knack to review details on a home listing and the photos, notate what is stated and line-itemed versus not, and pick up on queues and hints. Doing so will save you time as you weed-out the losers or “potentials.” Your holiday season has enough going on, so filter your time appropriately and save your capacity for bigger and better things.

• If it makes sense, make a bold offer on a home quickly — and if not, stay cool and reserved. If you absolutely love nearly everything about the property and the owners are quality maintainers, don’t be late to the offer table. You could lose out simply because someone else moved one day faster than you. A nimble and immediate enthusiasm to visit and make an offer at any given moment will put you ahead of the pack. Additionally, offer sellers their list price if you love the home and even bid-up when appropriate (but don’t overpay).

• The highest bidder isn’t always the one who wins-over the sellers. State upfront in your offer that you are fine with ambitious concessions if that’s the case. Limit your “walk away” contingencies that allow you to reverse course if certain provisions aren’t met (a very competitive move). Offer a higher-than-average earnest money deposit. Pay a credit toward the seller’s closing cost. Offer a short-close escrow instead of the usual average period.

• Be respectful with the seller’s real estate agent and make a heartfelt connection. Show your thankfulness that the sellers decided to put their home on the market during the holiday or winter season. If your offer and negotiables are quite similar to others on the table, then fostering warmth and rapport could make you outshine comparable buyers who aren’t as friendly, appreciative or well-mannered. Personality and appearance are important!

• Make sure you’ve already been pre-approved for a mortgage so sellers know you are serious about making things happen. Getting pre-approved — an efficient and quick process — will net you official documentation stating a lender will loan up to a certain dollar amount so you can purchase a home. It’s better to be completely prepared than not.

Mike Benton’s trustworthy and efficient local Colorado Springs team can pre-approve you quickly. Just visit Benton Capital to start a home-purchase mortgage application. Or if you’re refinancing, text an image of your current monthly mortgage at 719-331-5443 to find out how much money you can save each month at today’s record-low mortgage rates!