The West Michigan real estate market may be buried under inches of fluffy, white snow, but that doesn't mean that it's cooling down! Indeed, the whole region, especially the Greater Grand Rapids real estate market, remains fast-paced and competitive right now, despite the low temperatures outdoors. If you're considering buying a home in the area, right now is a great time to get your home search started. Here are three reasons why it's better to begin the house hunt now as opposed to waiting for the first flowers of spring.
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The cold will keep some buyers home. With record-setting low levels of housing inventory on the West Michigan real estate market, 2015 was a highly competitive year for home buyers. Not only did they have to contend with rising home values across the region, but also with many other eager buyers, ready to make above-asking offers on the home of their dreams. With the colder temperatures comes hibernation instinct, leading some potential buyers to put off viewing homes or making offers. This means that motivated buyers have a better chance during these slower months to get the most home for the mortgage amount.
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The furnace and insulation of the home will be easy to inspect. If there are massive drafts, leaky windows, or a failing furnace, it will be hard for even the least technically inclined home buyers to miss them in this frozen weather. Even if all you do is tour the inside of the home, drafty windows and frozen floors will be hard to miss. An inspection of the exterior can reveal much more. Lack of snow or substantially reduced snow levels on parts of the roof may be indicative of damage to the roof or a lack of insulation. Massive ice damns over doors or windows, along with over-sized icicles, may be flashing warning lights regarding the condition of the windows and doors and their seals. Pay close attention to heat loss and comfort issues when touring a home in the snow, and remember to trust your instinct (and your realtor).
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Sellers and secondary professionals are more likely to be motivated. If you're ever going to get a decent discount on home inspection services or moving company services, it's likely going to be during their slowest season of the year. Compound possible savings from seasonal specials with sellers who have a smaller field of buyers to entice, and you have a buyer-friendly market, no matter how low local inventory may be. Most of those listing their homes right now are hoping to sell before the spring thaw and first real estate rush of the year. That motivation means they are more likely to work with prospective buyers to make a mutually beneficial agreement.
Here at Pyxis Realty, our team understands the nuances of the West Michigan real estate market, as well as the highly varied Grand Rapids real estate market. If you're looking for a home this winter, don't get left out in the cold by high-pressure sales tactics or underwhelming service. Call or email the Pyxis Realty team to ensure you're receiving the kind of white glove service that could melt the coldest of hearts. Happy home buying!