The late spring and early summer is traditionally the busiest home-selling season in Georgia and around the country, but the winter months are no longer as slow in the real estate business as they once were. A shortage of inventory has made the residential real estate market extremely competitive in recent years, and buyers looking for a bargain seem willing to venture out in poor weather if it means finding a good deal.
Buying a home in the winter months could also be a prudent financial move. Home prices in the United States increased by 10 percent between February 2016 and February 2017, and most experts expect these figures to keep on rising in the months ahead due to a booming economy and a dearth of houses for sale. The winter residential real estate market can be especially robust in states like Georgia, where winter snowstorms are rare.
However, the winter months are quieter for real estate brokers even in parts of the country with temperate climates, and the buyers who are active are generally looking for a bargain. This is why experts advise sellers who take this path to set realistic prices and be willing to negotiate. Listing a house for sale in winter can also provide sellers with valuable feedback. Prices can be adjusted based on buyer reactions, and minor defects that derail prospective sales can be remedied before the start of the busy spring selling season.
Sellers who list their properties during traditionally slow periods are often hoping for a quick sale. Attorneys with experience in this area could help bring residential real estate transactions to a speedy close by addressing title defects like liens and easements before they become thorny problems. Lawyers could also take steps to ensure that letters of intent and agreements of sale are drafted in a way that will not give rise to disputes.