Are There Deals To Be Had In January?

Earlier this month a I wrote a blog post answering the question, "Is January too early to start looking for a home?" (read it here). Among other things, I mentioned how a buyer might benefit by purchasing a property that's been sitting on the market all through December.

Guess what? Less than a week after that post a client of mine proved my point and snagged a great condo at a steal.

We were still only a few weeks into the new year, but my client was motivated, pre-approved and ready to start looking. His preparation and willingness to jump into the market while most other buyers were still sitting on the sidelines resulted in him scoring a pretty good deal.

Timing certainly played a very big part here. My client was able to take advantage of 3 key factors:

1. The property had been on the market since mid-December (I'll go out on a limb and suggest that one week before the start of the holiday season is not the best time to list a home for sale).
2. The property was listed under market value (to the tune of 5%+).
3. The property had actually sold to another buyer before the holidays, but that deal fell through and it was now back on the market.

I'm guessing that many buyers (and their realtors) missed the fact that the other deal fell through. They likely assumed that the property was now sold and no longer available. Or maybe when it popped back up as available they were still in holiday mode and just weren't ready to start their search up again.

Either way, the property went to a buyer who was still in the game.

Are there deals to be had in January? Yep.

If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.