Most people think of Summer as the busy season for real estate. That’s true. But for those interested in real estate investing Winter is the true buying season.
Because I do a lot of investing and working with investors, there is really no slow down. Winter is prime time. And if you work that side of the real estate business you’ve got to see it that way.
Why Winter Is The Best Time To Buy Real Estate…
1. There Are Less Retail Buyers In The Market
Birmingham is a big market for single family investments. Often, investor competition comes not from other investors, but from owner-occupants. Most owner occupants try to move during the summer months when kids are off from school.
This presents a good opportunity to make offers in Winter with less competition.
2. More Stale And Unsold Listings
Sellers know that there are less buyers in the market this time of year. Less buyers means less showings. Less showing means less opportunity to sell their property.
If they are truly motivated to sell, Sellers may be willing to accept lower offers to get a deal done.
3. Utilize The Holidays
Many of my clients work long hours with minimal time to focus on investments. The holiday season can free up some time to study the market, refine strategy, and hunt for a good deal.
4. Have Flips Ready For Prime Selling Season
Flips take months to complete. If you’re thinking you want to undertake one this year, do a little thinking ahead. If you buy in November, the house probably wont be market ready until at least February.
After all our hard renovation work, we want our flips to sell immediately. But that doesn’t always happen. If the home doesn’t sell, you still have a full Spring and Summer season ahead to get it sold. Much better than staring down Winter with an unsold flip on the market. (Speaking from experience)
5. Stay Busy Realtors!
This one is specifically for my fellow realtors. You know you need to be investing in real estate. You also know that our retail business is slower this time of year.
Hopefully you found dozens of people their dream homes this Summer, and have already locked in a great year. Now is a great time to invest in your future.
6. Be Aware Of The January Goal Rush
I work with a lot of investors. Like me, many set goals around the beginning of the year. Those goals usually involve buying more properties. So in January, my phone starts blowing up. It may be a good idea to find a deal before the goal rush!
7. NOW Is Always The (Second) Best Time
There’s a saying among real estate investors that, “The best time to buy is always 20 years ago, the second best time is NOW.”
I think that’s true. Get going NOW and you’ll be thankful you did!
Thanks for reading! Please send me an email with any comments or feedback.