Fall, winter home buying tips for the motivated buyer (don't give up!)

All photos Eric Rojas, Broker, Kale Realty

If you have flexibility and can be aggressive the fall and winter months can be a good time to buy from a price standpoint. The fall and winter months of home buying is just plain different than spring. WHY? Because the pull of the traditional spring selling/buying market is like a tractor beam from the Death Star! There are simply fewer homes listed in fall/winter than spring. Here are strategies we use for clients looking to buy a home in the fall and winter months.

1) There are less homes listed on the market than spring. This is customary and most likely traces to traditional school family schedules.  However Chicago is dynamic in buyer demographic and many buyers move very close to their current homes. We have built over many years access to "off-market" listed properties offered to Top Producing Agents, canceled listings and word of mouth "pocket-listings" to help a motivated buyer find a home.

 

Homes on North Greenview in Graceland West. Fall is my favorite season to view homes! All photos Eric Rojas, Kale Realty

2) Many homes hanging around the market in fall/ winter are simply over-priced. In Chicago it is typical that home buyers lay off these properties. They typically make an offer when homes are either listed at a perceived good value (they will offer close or over list price) or the home is top notch new construction. We research the home listing situation and help make aggressive, FACT BASED home purchase offers. We work on these negotiations as long as it takes.  This can result in a better purchase price (and less competition) than spring market.

One example this season is jumping on a new house listing and buying at a price $50K under  (10% under) the listing price.  We believe many other potential buyers were scared away by the initial asking price but the seller accepted our qualified offer.

3) Relocation properties pop up in fall and winter months as people take jobs to start in the New Year. We coach our clients to be ready financially and mentally to jump on a deal that pops up in the midst of the holiday season. Inventory and budget are big challenges in Chicago and we push our clients to stay ready for all opportunities.