Profile picture for user3505801

Should I wait until Feb or Mar to make an offer on a house, or settle with what is on the market now

  • January 16 2013 - Broomfield
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Answers (13)

Profile picture for tricia v
Prices are typically higher in the spring months because there are more buyers in the marketplace then.  If you have found a great home you would be happy with now, then don't hesitate to write an offer.  However remember there is no guarantee something else will come on the market that is better or worse.  Go with what your gut is telling you to do.  If you have found a good home for you, usually you will find yourself thinking about it day and night.  If this isn't happening.... you may want to have your agent continue to comb the market for new listings.
  • January 17 2013
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That is a decision that only you can make.  No matter if you sell now or wait, its a gamble.  You have to do what you feel comfortable with.  You are risking so many things either way.  No matter what you do, you will always think of something you should have done differently.  Sell now, sell later, if I dont sell now - how long will it stay on the market before I get another offer, will other comporable homes come on the market. etc.....
  • January 16 2013
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Timing of listing a home is always a concern of a seller and there are many factors to consider.  Places such as Southern California will continue to see real estate activity because the weather is warm enough to be able to be outdoors. Now somewhere like Wisconsin might be a little different. 
Currently in today's Los Angeles real estate market, we are seeing a shortage of inventory and rates at record lows.  So selling right now would be a perfect time.  Waiting till the summer months could bring more competition and you never know where rates will be. Another important factor is whether or not you are selling to buy.  If you are selling to buy a home, it would most likely be a wash assuming you are buying in the same area. If you are selling at a lower price, you are probably buying at a lower price.  An important fact is the mortgage intereste rate.  The difference of rate going up by  .50% or 1% over could make a HUGE difference in the amount of interest you will pay over the next 30 years. Good luck with selling!!!
  • January 16 2013
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 I agree with the other answers here Don't just settle because it is a good time to buy. If you found a house that fits your needs and you like it enough to buy it but.....   Think about it this way if you put off your decision until Saturday then you find out Friday that someone else bought it how would you feel?  Would you be upset or Ok with that?
 The last thing you want is buyers remorse but not one of us has a crystal ball to know what properties will be available tomorrow.
 Good luck  
  • January 16 2013
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I would not wait as interest rates are good and our inventory is low.

Susie
  • January 16 2013
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Like the rest of these realtors and property managers, I agree that you should NEVER settle on a home.  As far as I am concerned you should never "settle" on ANYTHING, but that is just me.

That being said, my best advice to you is to choose your realtor VERY carefully.  Most realtors I know show you homes in this order REGARDLESS of what you tell them you are looking for. They tend to show you:

1. Their listings
2. Their companies listings
3. Other listings based on the commission structure.

This has to do with their commission structure.

Remember that a realtor is paid on commission so even if they "work for you" they may or may not be getting you the best deal. I am by no means saying that any realtor is a crook either, but if you think about it  for a moment it will make sense.

The sellers agent gets the biggest commission by selling the home themselves, thereby getting both the buyers side and sellers side of the commission. The buyer's agent does not have a financial incentive to get you the cheapest deal either, they also get paid by commission therefore the higher the price the more they make for the exact same paperwork.

So, although I have probably now alienated every single agent, realtor and broker on Zillow, I feel like consumers really need to understand who and what they are hiring.

Bottom line, do not be hasty about a decision that is going to affect a large part of your life.  Choose your product AND your agent wisely, and wait for EXACTLY what you want in both areas.

  • January 16 2013
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Profile picture for teamjohnlarson
I agree with what is being said.  You should never settle when purchasing a home.  The market is improving, but not so much that you'll be kicking yourself in 3 months for not making a sooner move.  Be patient, find yourself a good realtor who may even specialize in a specific area you're looking, and have everything ready to go once that perfect home hits the market. 

Best of Luck!!

Team John Larson
  • January 16 2013
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In describing your situation, you've essentially summed up the current market. Many of our buyers are experiencing the exact same thing.

My team is getting creative in this seller's market, and we actively market to potential sellers in neighborhoods where our buyers are looking (we use a variety of techniques to narrow our marketing to residents most likely to sell). If you feel comfortable, pls let me know the neighborhoods you're interested in or give me a call to see if we can help you. thanks, Keelan
  • January 16 2013
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Profile picture for BillyMcCoy6
In my opinion, you should never settle when buying a home. You can compromise some of the little cosmetic things that can always be changed in the future. It is the best time to buy but the market is not going to go through a drastic change in the next 6 months. The inventory will change and that might present a house that could even exceed your expectations. Be patient.
  • January 16 2013
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Profile picture for Matt Hiatt
Wait until you find the perfect home, then decide. I don't see an advantage in waiting to at least look, I know in the Phoenix market, prices are still continuing to rise, although not quite as fast as a few months ago because we are finally starting to see a little more inventory come to the market. Again, I would never "settle" on a home, I would wait until you find one that you truly want. Good luck.
  • January 16 2013
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In my opinion, you should never "settle" on a home.  Wait until you find a home that you could see yourself living it.  This is a major investment and you want to make sure you would be happy and comfortable living there, and that it has good upside potential keeping in mind the future resale value.
Don't hesitate to call or email me with any questions.
Kindly, Carrie Holmes

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  • January 16 2013
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Inventory is super low right now...making it tough to find exactly what buyers are looking for.   So if you see something you like and that works for you, I'd move on it.   If you feel you are settling, certainly you could wait...just prepared to move fast!
  • January 16 2013
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Profile picture for user5321200
You will never know what's going to happen tomorrow. But I doubt anything big is going to change in the next two months.
  • January 16 2013
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