6 Reasons to Buy a Home in Winter

Buying a home in winter could be the perfect time. You have less buyers in the market to compete with, sellers are usually trying to get their home off the market so more willing to lower price, and inventory is lower, which makes sellers more motivated to negotiate.

Home Prices are Lower

Seasonal home prices are lowest in winter, particularly in January and February, meaning home-buyer affordability is at its highest. You also have fewer buyers in the market, making supply exceed demand. This usually results in prices being lower than during the warm or peak seasons.

Quicker Transactions

During the winter months there are fewer real estate transactions than there are in spring and summer. The fewer number of transactions means mortgage lenders have fewer loans to process, title and escrow companies have less closings to process, and home inspectors have fewer inspections. All of these are motivating factors that can lead to quicker transactions and closings for everyone involved.

Home Sellers are Motivated

A home on the market during winter months usually means there’s a motived seller. Having to move because of a job change or life change could make the seller more motived due to a “must sell” situation. Real estate agents also know that impulse can equate to sellers who are more willing to negotiate, whether it is on selling price, closing costs, closing date, or even terms of the sale, like what household items are to be included in the sale.

Less Competition

In most markets, winter usually means a lower inventory with less houses on the market. It also means there will be fewer buyers to compete with during the winter months.

If there are fewer buyers in the market, the seller may be willing to negotiate a better price. And with fewer buyers competing for homes, the chances of multiple offers on a single property decrease. All this means that buyers have the upper hand over sellers in the negotiations. The laws of supply and demand are always at work in real estate sales.

Real Estate Agents Can Focus on You

During the slower winter month, your real estate agent has more time to give you their undivided attention – they will be working harder for you. These low-activity months for sales encourages agents to try just that little bit harder to negotiate a sale. With extra time on their hands, they are better able to help you find the right home, negotiate the best deal, and close the transaction quickly.

You Get to Assess a Home’s Condition in Wintertime

Winter can be the toughest season for a home. The cold, moisture, and wind will test the home’s ability to insulate and protect its residents. When you view the home, you’ll get to assess first-hand whether the insulation is no good, for example. Significant problems are more likely to appear as well, such as if it’s drafty, if the HVAC system works well, and so on.

Buying a home in winter affords you the opportunity to discover things that otherwise might not be noticeable in warmer weather. Such information can be extremely useful in your decision making and your negotiations about the final price of the home.

All of these reasons factor into why winter can be a more opportune time for home buyers than sellers. As a buyer, you can benefit favorably, in ways you’re less likely to experience during peak selling seasons.

-article courtesy of FAHW

For more information about buying and selling, visit my website at www.conniefoley.com

Why Would You Sell Your Home in Winter?!?!?

The sky is gray, yards look bleak, you just want to hunker down with a good book and a blanket. Why think about selling your home now?
Here are a few good reasons:

1. Housing Inventory is LOW
Unlike many other areas of the country, the Santa Clara County real estate market has seen prices surpass their 2007 highs with no end in sight. We have extremely low inventory and many well-qualified buyers desperate to find a home. I receive emails every day from agents begging for off-market listings for their buyers who have lost out on multiple offers. In most of my transactions this past year I have had buyers who were more than willing to tailor their offer to work with buyers' needs, including rent backs, long escrows, short contingency periods, etc. This is a sellers' marke

2. Low Interest Rates
Yes, the Feds raised interest rates at the end of last year. That being said, they are still ridiculously low. We expect them to go up as the year progresses, so take advantage of them now, while buying power is still strong. If you are not only selling your home but looking to purchase a replacement, this is doubly important.
3. Tax Benefits
Yes, this is still the largest tax break for qualified taxpayers on capital gains for the sale of their personal residence. Single taxpayers may exclude up to $250,000 on capital gains and couples up to $500,000.

If you have any questions, please feel free to contact me. I also welcome opinions and personal testimonials.

Getting Your Home Ready for El Nino

Are you Ready for the upcoming El Nino?

After the past 4 years of drought, I know I will be happy to see the rain! Before the celebrations begin, however, there are some important things to check around your house.
1.   The first thing might be your roof. Check your roof to see if you can detect lifting shingles, exposed felt, deteriorating composition materials, flashing, etc.

If in doubt, hire an expert to come out and inspect it. Don't wait for the first rain or you may be waiting for weeks to get someone to come out!

 Make sure your gutters don't leak and are clear of any debris. I don't have any overhanging trees, but have found tennis balls and birds nests clogging mine!

Check downspouts and make sure they are clear and that the water is directed away from the foundation. We use a flexible extender at the end of ours, but there are many decorative and permanent ways to direct the flow. See below:

2.   Check trees and large shrubs for weak or overhanging branches. Our trees have suffered from less water and may not be healthy enough to withstand hard rains and strong winds.You may want to consult with an expert.

3.   Think about runoff in and around your house and yard. Most of us in the Valley have clay soil, which holds water and creates wet spots. Check for areas that puddle and consider a solution to drainage.

Check your impermeable areas (solid concrete patios and driveways, for example). Consider ways to direct the water to areas where it can soak in instead of running into the storm drains. It may be possible to make some areas more permeable with pavers, stones, etc. so the water has a chance to percolate into the subsoil.

Consider storing the runoff water for use in other areas of the yard.
Mulch early in the Fall to keep it from washing away with the first rains.

4.   Consider your choice of plantings. Some plants that we have put in during the drought period may not stay healthy with too much rain water.

You may want to move these or remove them completely.
Think about "Summer Shade" and take this opportunity to plant trees and shrubs. They get time to establish themselves before they go dormant. This may also be a good time to put in native plants that are adapted to our climate swings.
Please don't wait until the rains come or it may be too late! If you have any questions, consult with a professional. I would be happy to give some names of reputable companies I have used or go online and check reviews.
Good luck! Come on rain!