What is the best time to make an offer on Real Estate for Sale in Virginia Beach
Different areas in the country have different
cycles for people moving in and out of the area. During the Summer
is always the best time to have your real estate for sale,
but it is not the best time to look for that bargain of a home in mint
Hampton Roads is overwhelmingly a military area, which means young families with children in school. Starting your search in May until August means that you are competing with every family that is is being transfered in to the area. At the same time, people who have taken the time to plan the sale of their home will put the home up for sale during this time, so although this is not the best time to make an offer to buy a home in Virginia Beach, it is the time when you will find the best looking move-in ready homes.
What is the best time to make an offer on Real Estate for Sale in Virginia Beach or the Hampton Roads area. From the middle of November through the middle of January is the best time to get the best price on a home. By this time homes have been sitting on the market with no end in sight, and the budget for keeping that extra home until the market picks up, start running out. Not every seller needs to sell, and I have seen vacant homes on the market for over a year or more.
During this time the best time to write an offer is between Christmas day and New Years day. Very few people are out there looking at homes, and with the hope of starting the new year free of that "home for sale," sellers are eager and thankful for that offer.
When it comes to foreclosures the best time to get a bargain is when it has been on the market for a couple of months, and before the bank makes a major reduction to the price, as at that time you will find your self in a multi bid situation.
Short sales are not for everyone, and unless you are prepared to wait for months for a yes or no answer, I would avoid this transactions entirely. Yes, you can get a bargain, but also you may have missed the boat with the low interest rates that are available at this time.
What is the best time to make an offer on Real Estate for Sale in Virginia Beach or the Hampton Roads area. The best time to make an offer on new construction is when the builder has run out of money. Too many homes for sale, might mean that the builders quarterly projections call to sell one at a discount. Builders are savvy business people so they plan accordingly to avoid finding themselves in this situation, but it happens, and although they may not lower their prices much the buyer can walk away with a lot of extra freebies.
Back on the market homes are a good strategy for finding good deals. The seller has probably found another home, and now the seller is in no situation to pay two mortgages.
Regardless of when you need to buy, the best thing that you can do before you buy a home is to plan. Find a good Realtor, pin down what is it that you want on a home, find the general area that you want to live in, and last but not least, get preaproved with a legitimate mortgage lender. There is nothing worse to finding the perfect home to find out that you can not afford it.
Call me at: 757-502-5324
What is the best time to make an offer on Real Estate for Sale in Virginia Beach or the Hampton Roads area. was first published on Hampton Roads Real Estate VoiceCopyright © 2010 By Tere Rottink, All Rights Reserved.