The fourth quarter of the year is commonly thought of as the slow season for real estate. That doesn’t mean that buyers and sellers aren’t treated to great benefits when buying as the calendar ends.
BENEFITS TO BUYERS
One major benefit buyers notice during the last quarter is there is less competition from other shoppers.
This lessens the chances of a bidding war or rushing to a decision on a home you are considering. Buyers also have the advantage of being more aggressive with a seller during negotiations as other offers may be few and far between.
By buying a home before the year ends, you’ll also get to take advantage of tax benefits once you file next April. Even if you buy early on in the year, you must wait until the following tax season before you claim your costs.
BENEFITS TO SELLERS
As a seller, the cooler part of the year means you will visited by buyers who mean business.
Those who are only interested in viewing the property are less likely to get out in the frigid weather or snowy conditions. You may notice few people are visiting, but their intentions of purchasing should be taken seriously.
A lack of competition also suits sellers well. It’s important your agent stresses prices may increase once the warm weather returns and now is the time to buy. When less homes are actively on the market, buyers are more motivated to make a decision.