Buy IN THE DEAD OF WINTER....... (sellers, for sale, value, buyers)

[Greenvalley]

I read a real estate book once on buying advice. I took that book dead serious said buy in the Dead
of winter. So I waited till DEC when there was a couple foot of snow on the ground. There was an estate sale on a house and we went to see it and waded in the deep snow just to see the backyard which turns out there was nothing but a straight down steep slope beautifully wooded.

I decided I could live with that as the view was nice and private. we bought as is. I have since sold it
but I looked it up and its been sold three times over many years and every person has made money on it.
maybe that advice is good!

I should edit to say even in the market crash this house kept all the buyers afloat. Which isen't the case for a lot of homes I see around here now for sale. A lot of homeowners are making hardly anything after being in their houses several years.

[jackmichigan]

When it's snowy and cold out, generally there are fewer people looking to buy (with the possible exception of ski areas). Less competition favors Buyers, and Sellers can tend to get anxious about selling and may be more willing to deal.

In your case, however, I think the fact that you bought from an estate may have had as much to do with a good price as anything. With many estates, the heirs are just looking to be rid of the property. Provided that they are not too emotionally tied to the property, pricing may be more realistic or even to the point which indicates they just want to dump it.

I've dealt with a couple of estates which indicated the range one might encounter. In the one case, two of the three siblings who had inherited the property wanted to keep it for themselves. Negotiations for that property (a family farm) were excruciating. (It took five years, but that's another story.) In another case, the Trustee for the estate had no relationship to the deceased other than being his attorney. That property was bought for about half of the market value.

But...I see no correlation between the timing of your purchase and the profitability of the subsequent owners, provided that you sold at market value. Maybe it was just a good house.

[Greenvalley]

Well I agree Jack with a lot you said. But I don't think I would have scored the deal in normal competition.
There are not a lot of people out wading in deep snow to see houses in winter. Being an estate sale certainly
was a factor on the price and relatives wanting to dump it instead of waiting for the spring buyers.


I think I got such a good price that everyone after me made a little when they sold.

[oregonwoodsmoke]

In the area where I live, the buyers are not out in the winter. There have been a few Decembers when I was literally the only buyer out there. Nobody wants to move in the winter, in this area where it is cold and might be snowy or icy.

The sellers who have their property listed during the winter really want to sell. When it is snowing or raining, you get a good chance to see if there are drainage issues. You get a chance to see how weather tight the house is.

Shop carefully, make carefully considered offers, and there is a good chance of getting a good bargain during the winter months. Well, maybe not in Florida, but in any area where weather causes difficulty in moving.

[jackmichigan]

Originally Posted by Greenvalley

Well I agree Jack with a lot you said. But I don't think I would have scored the deal in normal competition.
There are not a lot of people out wading in deep snow to see houses in winter. Being an estate sale certainly
was a factor on the price and relatives wanting to dump it instead of waiting for the spring buyers.

I wasn't discounting that wintertime may have affected the price--only meant that being an estate probably helped as well. In some circles, that's known as a "Double Whammy" to the Seller.