{"id":2621,"date":"2022-11-30T08:45:20","date_gmt":"2022-11-30T13:45:20","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2621"},"modified":"2024-04-25T23:18:12","modified_gmt":"2024-04-26T03:18:12","slug":"the-truth-about-buying-a-home-in-winter","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/the-truth-about-buying-a-home-in-winter\/","title":{"rendered":"The Truth About Buying a Home in Winter"},"content":{"rendered":"\n
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December? January? February? It\u2019s All Good.<\/figcaption><\/figure>\n\n\n\n

Spring is high season for home sales. But buying in winter means settling down in time to watch the garden bloom in a new home. There\u2019s a lot to be said for that.<\/p>\n\n\n\n

In the northern latitudes, home shopping can mean weather-related holdups here and there. But winter is a great time to work with mortgage consultants and real estate agents. It\u2019s also the perfect time to see how a place looks and feels when the comforts of home matter most.<\/p>\n\n\n\n\n\n\n\n

Shopping Online Keeps Home Buyers Warm\u2014And Smart.<\/h2>\n\n\n\n

Some buyers and sellers believe real estate enters semi-hibernation mode in winter. If that ever <\/em>were true, it\u2019s not now. Most everyone, Boomers to Gen Z, goes online to look for homes and compare deals. Online access to plentiful information about a home, including virtual tours, has evened out seasonal home selling and buying.<\/p>\n\n\n\n

Online home shoppers can do much more than just sift through the details of this house and that one. They can also look through the pricing history of the homes, and surrounding homes. It\u2019s an excellent way to study the markets in various locations.<\/p>\n\n\n\n

It\u2019s clear from the information available over the internet that the market is shifting. In late 2022, sellers can\u2019t expect multiple bidders to send prices soaring. In some places, home prices are being reduced.<\/p>\n\n\n\n

Look for signs that property values are stalling and inventories are expanding. \u2018Tis the season\u2026 when a hopeful buyer might just catch a break. With sellers motivated to move, winter home shopping can make perfect sense.<\/p>\n\n\n\n

Let\u2019s check out the stats.<\/p>\n\n\n\n

In Winter, You\u2019re Less Likely to Pay Over the Listing Price.<\/h2>\n\n\n\n
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Attom, a property data firm, has come out with its new statistics on U.S. home sales. The firm has looked at data from high-volume selling days. The question was what people will wind up paying for homes, versus their listing prices.<\/p>\n\n\n\n

And here\u2019s the upshot. Autumn and winter buyers are most likely not<\/em> to pay more than the list price. Of course, each transaction has its own set of circumstances. But overall, buyers who can get to the closing table in winter can rack up five-figure savings, relative to buyers who start shopping in the milder months.<\/p>\n\n\n\n

It makes sense. Consider the homes for sale in December. This is not a typical seller\u2019s first pick of all possible moving months. Often, the December home sale is happening because the seller is moving with a company, working with a year-end deadline, or adjusting to a fundamental life change.  <\/p>\n\n\n\n

All this means a lot of folks are on a mission to come to the closing table by December 31. They might want the home sale included in their tax return planning. The new owner, too, will want to start deducting mortgage interest and property taxes, and some of the mortgage loan costs.<\/p>\n\n\n\n

Winter days are short. Sellers are pressed for time. In short, many of the December and January home sellers are mindful of timing, just as many buyers are. Many winter sellers are motivated to work quickly when they find serious buyers.<\/p>\n\n\n\n

This Could Be a Good Time to Hold a Mortgage Broker\u2019s Attention.<\/h2>\n\n\n\n

December, January, and February always tend to be slow months for mortgage companies<\/a>. And that\u2019s especially true this year.<\/p>\n\n\n\n

For the stats, we turn again to Attom, the real estate data firm. It has just released its new U.S. Residential Property Mortgage Origination Report<\/em> \u2014 this one covering the third quarter of 2022. Here\u2019s what\u2019s going on in the mortgage world, as we head into winter in 2022:<\/p>\n\n\n\n