WeitzelSappington535
La Homes - Cold Weather is the greatest Time to Buy
Have you ever heard it said that you may get a much better home deal if you purchase prior to the summer months? According to Los Angeles MLS data, this appears to be true.
Okay, you might disagree since you say it certainly is warm in Los Angeles. Personally, i disagree, I'm all incorporated at this time during my cold office complaining that my heater isn't doing it's job. It's only 55 degrees and I'm still freezing to go out. I recognize that's ridiculous, all of those other country is much more miserable and cold than I'm, but that is the way a spoiled La resident much like me feels. That's also the general public Los Angeles consensus, and I am about to show you some interesting data in regards to this.
In November of 2008, the Median Sold Price for LA county MLS properties was approximately $388,000. In December the median price transpired to around $380,000. Here's the real interesting part. From January to April of 2009 it bounced between approximately $340,000 and $355,000. That's a $48,000 price decrease from November. Full the sunshine statistics begin in May because the price shot up to $375,000 with a peak of around $380,000 in June. It started going down once more in September once the kids went back to college, with a Median Sold Price of $360,00 and then in November the price as much as $377,000. The main reason the median price didn't come up to $388,000 as it was back in November of 2008 is due to the median price declining 3% over the year. For that 2008-2009 time period, it would appear that the months of January through April showed significant price decreases.
There are lots of contributing factors to those prices, for example government programs, foreclosures, the economy and inventory levels. Typically though, ask any seasoned Los Angeles real estate investor and they'll attest to this cold temperature theory. Investors don't like this bit of common sense known, because they is going to be offering their secrets. Think of it yourself, would you rather shop in cold temperature or warm?
Years ago my husband and I were looking for great deals on golf course homes. I was looking all day long in a large community of new course homes, and basically I needed to stop since it was cold and rainy. My husband inquired about to please carry on, as this was the optimum time to find that great deal. In summary, within 2 hours we had bought not one but two brand new course homes at an incredible price. One house had just fallen from escrow the hour we turned up and another from the houses was available but for some reason we'd to pry the information out of the agent. We were in the right place at the right time. My hubby went the next morning to accomplish the start-up paperwork on these two homes. It was a bright and sunny morning with a group of home buyers swarming work to see if my husband would actually appear. They were told if he didn't appear they might purchase one of the homes on their own. We often laugh about what happened on that cold and day you need it and will always remember just how much fun it had been to locate the above great real estate deals.
If serious investors realize the best deals can be had within the colder months, don't you think perhaps you should consider buying when everyone is not? It's correct there may not be as numerous La homes to select from in the colder season, but there still is a good chance to locate that perfect home at that perfect lower price. Once the warm months arrive, the marketplace becomes overly competitive with anxious buyers within the busy property season. Home deals aren't found as easily, and you will have to compete with those other 20 buyers making offers on the homes that everybody and their brother likes.
So the next time it's cold and rainy and also you really do not feel like going outdoors and battling the sun and rain, maybe say to yourself "Hey, this is the best time for you to find my house and save Lots of money. Let's go!"
