There were more than a few home buyers who got frustrated and decided to put off their home search last Spring. Experiencing that frenzied market myself with multiple offers, overbids and cash buyers, I can completely understand why a buyer would want to take a break. It was emotionally draining, especially if you weren’t successful.
Planning to Wait Until Next Spring? Think Twice!
My suspicion is a many of these buyers are waiting until next Spring to start their search again. One client told me Spring was the only time to buy a home, so they would have to wait until next season. That couldn’t be farther from the truth. Waiting until next Spring when most buyers will enter the market again will only mean more of the same – multiple offers, overbids and more frustration.
Time to Get Started with Your Home Search Again – The Data Proves It
If you put your home search on hold this past Spring and still want to buy, start back now. Historically, August-December has been the best time to buy a home in Austin and the numbers are saying we’ll be seeing more of the same this year. If you read our August 2014 Real Estate Price Report, you will see Austin housing inventory is up 6% (meaning more choices for home buyers) and buyer demand is down 18% (meaning less competition). If you follow seasonal trends, you’ll see this behavior is typical for the Fall/Winter months. For whatever reason, this time of year does not encourage home buyers to look for homes.
Smart Home Buyers Buy During the Off Season
Want to save money on your home purchase? Not interested in paying top dollar or throwing all your money at a seller to compete with other buyers? Buying a home during the Fall/Winter “off-season” is the best time for you. Homes don’t sell as quickly as they do in Spring and they generally don’t sell for as much. Remember, Austin’s Spring market starts in mid-January, not in March and April like other markets. Get started now and you’ll be in your new home by the Holidays.
Don’t Believe Me? Check Out What’s for Sale in Your Favorite Neighborhood
If you want measurable data (I’m an engineer by training, so I understand wanting data), check out what’s for sale in your favorite neighborhoods. I guarantee you’ll find more choices and you’ll even see quite a few properties have had price reductions, something we didn’t see during Spring. Doesn’t that seem like a much more reasonable way to buy a home?
Ready to Get Started on Your Austin Home Search?
If you are ready to get started on your Austin home search again and are looking for a Buyer’s Agent who knows the market and can help make home buying stress free, we can help! We’re a bit different than most Realtors in that we specialize in home buyers and know how to get offers accepted. We don’t like to be hard sold, so we wouldn’t do that to our clients. Instead, we take a consultative approach to help you work through the process and understand what you’re buying. Check out our Austin Home Buyers page to learn more about who we are and how we work. Then, fill out our Buyer Survey, email us at info@11OaksRealty.com or call us at (512) 827-8323 to schedule a no obligation consultation.