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When is the Best Time to Buy a House?



Buying a house is one of the biggest investments you can make, and as such, it’s important to get the best deal possible. Knowing when to buy a house can help you save thousands of dollars in the long run. So, what time of year do houses sell cheapest? Let's take a look!


It Depends on the Market

The answer largely depends on where you live. Generally speaking, if you are living in an area with high demand and low inventory, it doesn't really matter when you buy; prices will likely remain high regardless. However, if your market has lower demand and higher inventory levels, then timing can be key. Certain times of year may present better buying opportunities than others.


The Fall Season

Fall is usually considered the best time to buy a house for two reasons: there isn’t as much competition from other buyers because many people are busy with school or work; and sellers often want to close before winter so they can move into their new homes before cold weather sets in. This means that many sellers are willing to negotiate more during this time frame, which could translate into lower prices for buyers.


The Spring Season

On the flip side, springtime is typically seen as one of the worst times to purchase a home because there’s more competition from other buyers who are looking to take advantage of warmer weather (and possibly lower interest rates). Prices may be inflated during this season due to increased demand and reduced inventory levels. That being said, if you come across an especially good deal during this time period don't hesitate – it might not last!


When it comes down to it, there really isn't one definitive answer for what time of year houses sell for cheapest. It depends on where you live and how much competition there is from other buyers at any given moment. However, if your goal is to get the most bang for your buck then fall might be your best bet since that’s when sellers tend to be more open to negotiation due to lack of competition from other buyers. Ultimately though, no matter what season it is always remember that knowledge is power when it comes to finding great deals on real estate! Good luck!

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Selling Your Home in the Winter: Is It Worth It?

Selling your home during the winter months can be a tricky task. While there is less competition from other sellers, potential buyers are also fewer and far between. However, selling a home in the winter doesn’t have to be an insurmountable challenge—there are certain strategies you can use to make sure your home stands out and attracts buyers. Let’s take a look at how you can succeed when selling a home in the winter.


Make Sure Your Home is Well Lit
The most important thing you can do when selling a home in the winter is to make sure it looks inviting and cozy. This means making sure your home gets plenty of natural light, as well as adding additional lighting fixtures throughout if needed. Warm lighting will create an inviting atmosphere, making potential buyers feel comfortable and welcome in your space.

Take Advantage of Technology
In today’s digital age, you have more options than ever for getting your house seen by potential buyers. You can use online marketing tools such as real estate websites, social media platforms, and digital ads to get the word out about your listing and attract more attention from prospective buyers. Make sure to include high-quality pictures of your home on any listings or ads that you create—this will help people get a clear sense of what they might expect if they come to view your property.

Be Flexible with Showings
When showing off your home during the winter months, it's important to remain flexible with showings so that potential buyers don't miss out on seeing your house due to inclement weather or other factors that may interfere with their plans. You should also make sure that you are available for showings at convenient times for prospective buyers—even if this means being available later in the evening or on weekends. By staying flexible and accommodating with showings, you increase the chances of having someone fall in love with your house even during these colder months!

Conclusion:
Selling a home during the winter months can be challenging but it doesn’t have to be impossible! With some strategic planning (and lots of warm lighting!), you can attract prospective buyers who are looking for just the right place this season—and make sure that yours stands out from all others! The key is getting creative with marketing tools and staying flexible when scheduling showings of your property; this way, you guarantee maximum exposure for your listing while also ensuring convenience for those interested parties who ultimately become serious contenders for purchasing it! Good luck!

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Many home sellers wait until the spring season to list their homes, thinking that the market will be more active and they will have a greater chance of selling quickly. However, there are several reasons why not waiting until the spring market makes more sense. Let’s take a look at why now could be the perfect time to sell your home.


It’s Less Competitive Now
When you wait until spring, you’re competing with all of the other sellers who are also listing their homes in anticipation of increased buyer interest and higher prices. By putting your home on the market now, you may get more attention from buyers who are looking for a new home before winter sets in and before the bulk of new listings come on the market in March or April. This could give you an edge when it comes to negotiating price.

Uncertainty Is High
With so much uncertainty about where mortgage rates will go, job stability, and how long this pandemic will last, many buyers may be sitting on the sidelines waiting to see what happens before making a decision about buying or selling a house. If this is true for many buyers, it could mean that now is actually an ideal time to list your home since fewer people are likely seeking out housing right now. This means that those actively looking may be more motivated to buy since they know they won’t have as much competition when it comes time to make an offer.

Conclusion: Selling your home during this transitional period between fall and winter may seem daunting but there are several benefits that could outweigh any potential risks when it comes time for negotiations or closing costs. By taking advantage of less competition amongst other sellers in your area, lower mortgage rates available for potential buyers, and uncertain times which could drive motivated buyers out of hiding, now might actually be one of the best times ever to sell your house! With a great Realtor by your side guiding you through each step along the way, selling during this transitional period doesn’t have to be difficult - even if it is outside of traditional seasonal norms!

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Everything You Need to Know About Buying a Home in the Stabilized Interest Rate Market

The housing market is beginning to show signs of life after a period of low interest rates. After years of uncertainty, buyers are coming back into the market in droves. With mortgage rates stabilizing and home prices increasing, now is the perfect time to buy a home.

For those looking to purchase a home, there are several factors to consider before making the big decision. First, it's important to understand your current financial situation and how much you can afford for a down payment and monthly payments. It's also important to research different lenders and compare interest rates so you can find the best deal for your budget. Additionally, it's important to consider other costs associated with buying a home such as closing costs, taxes, insurance, and maintenance fees.

Once you've done your research and have an understanding of what you can afford, it's time to start shopping around for homes that fit your needs and budget. With so many options available on the market today, it's important to take your time when searching for the perfect property. Consider things like location, size, amenities, schools in the area, and any other features that may be important to you when making your decision.

The housing market has been steadily improving over the past few months as buyers come back into the market after years of uncertainty due to low interest rates. Now is an excellent time for those looking to purchase a home as mortgage rates have stabilized and there are plenty of great deals available on the market today. Do your research before taking the plunge so you can make sure you're getting the best deal possible!

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Serious Buyers Start Early: Make Sure You're Seen

Are you thinking about selling your house? If so, don't wait for the spring market to do it. There are plenty of reasons why you shouldn't wait until springtime to list your home - and all of them good. Read Below

Want To Sell Your House? Price It Right. | Winnipeg Realtor

First off, the inventory in the winter is much lower, which means sellers have less competition from other homes on the market. This can be beneficial for anyone hoping for a quick sale, as there will be fewer homes vying for attention from potential buyers.

Second, serious buyers tend to break out early in the year. So if you want to make sure that no stone goes unturned when it comes to finding that perfect buyer, get your home on the market ASAP.

Finally, when spring arrives and more listings appear on the market alongside yours, it can get easy to get lost in the shuffle if you didn’t list early enough. So beat out the competition by listing now!

There’s no need to wait – take advantage of these winter opportunities while they last! Get started with your journey towards becoming a successful home seller today by taking steps like getting a realistic assessment of what your home is worth and making improvements where necessary so that it appeals to potential buyers. Good luck!

 
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Want To Sell Your House? Price It Right. | Winnipeg Realtor


Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:

“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”

In a more moderate market, how you price your house will make a big difference to not only your bottom line, but to how quickly your house could sell. And the reality is, homes priced right are still selling in today’s market.

Why Pricing Your House Appropriately Matters

Especially today, your asking price sends a message to potential buyers.

If it’s priced too low, you may leave money on the table or discourage buyers who may see a lower-than-expected price tag and wonder if that means something is wrong with the home.

If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what that means about the home.

To avoid either headache, price it right from the start. A real estate professional knows how to determine that ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to stronger offers and a greater likelihood your house will sell quickly.

The visual below helps summarize the impact your asking price can have:

Want To Sell Your House? Price It Right. | MyKCM

Bottom Line

Homes that are priced at current market value are still selling. To make sure you price your house appropriately, maximize your sales potential, and minimize your hassle, let’s connect.

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Winter Home Selling Checklist [INFOGRAPHIC] | MyKCM

Some Highlights

  • As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal.
  • This list will help you get started, but don’t forget, a real estate professional will provide other helpful tips based on your specific situation.
  • Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.
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Key Advantages of Buying a Home Today

Key Advantages of Buying a Home Today | MyKCM

There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined their search due to rising mortgage rates.

Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today.  The reality is, headlines do more to terrify people thinking about buying a home than they do to clarify what’s actually going on with real estate.

Here are three reasons potential homebuyers should consider buying a home today.

1. More Homes Are for Sale Right Now

According to data from the Canadian Real Estate Association (CREA), this year, the supply of homes for sale has grown significantly compared to where we started the year (see graph below):

This growth has happened for two reasons: homeowners listing their homes for sale and homes staying on the market a bit longer as buyer demand has moderated in response to higher mortgage rates.

The good news for you is that more inventory means more homes to choose from. And when there are more homes on the market, you could also see less competition from other buyers because the peak frenzy of competing over the same home has eased too.

2. Home Prices Are Not Projected To Crash

Experts don’t believe home prices will crash lke they did in 2008. Instead, home prices will moderate at various levels depending on the local market and the factors, like supply and demand, at play in that area. That’s why some experts are calling for slight appreciation and others are calling for slight depreciation :

If you consider the big picture and average the expert forecasts for 2023 together, the expectation is for relatively flat or neutral price appreciation next year. So, if you’re worried about buying a home because you’re afraid home prices will crash like they did in 2008, rest assured that’s not what expert projections tell us.

3. Mortgage Rates Have Risen, but They Will Come Down

While mortgage rates have risen dramatically this year, the rapid increases we’ve seen have moderated in recent weeks as early signs hint that inflation may be easing slightly. Where they’ll go from here largely depends on what happens next with inflation. If inflation does truly begin to cool, mortgage rates may come down as a result.

When that happens, expect more buyers to jump back into the market. For you, that means you’ll once again face more competition. Buying your house now before more buyers reenter the market could help you get one step ahead. As Lawrence Yun, Chief Economist for NAR, says:

The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November.”

When mortgage rates come down, those waiting on the sidelines will jump back in. Your advantage is getting in before they do.

Bottom Line

If you’re thinking about buying a home, you should seriously consider the advantages today’s market offers. Let’s connect so you can make the dream of homeownership a reality. 

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How Important is Curb Appeal??

Curb Appeal tips – more than just what meets the eye!


When getting your home ready for the market, people will often concentrate on the inside of your home- as you should! But the first impression really starts right when the buyers pull up out front.

Here are 5 simple ways to improve your curb appeal, and get buyers thinking “YES!” right from the start!

  1. Start with CLEAN! Cobwebs and dust are never welcoming, and can often make finishes seem tired and dated, even when they’re not. One of the cheapest and easiest ways to make a great first impression is to give your front entrance a good clean. Wipe down the front door and threshold, and clean the light fixtures too. Give the front step a good sweep and wash, and wash the exterior windows. Once you start, it’s often surprising just how dirty it was!
  2. Get LIT! Ensure your outdoor light bulbs are not burnt out. For evening showings. It amazing how much more welcoming it can be to add some simple, inexpensive solar lights along the front walk or driveway, or to accent landscaping etc.
  3. Snow/Grass: This is an important one. Nothing makes a home appear as though it hasn’t been well cared for than a wild looking lawn, or trudging through snow that hasn’t been cleared well. Ensure the grass is cut, and e sure to trim along the edges, fence etc. Pull unsightly weeds, and consider spreading a bit of topsoil and quick-growing grass seed to plump up the lawn. In winter, having the walk and driveway cleared right down to the pavement makes a big difference not only in a welcoming impression, but your buyers’ safety as well.
  4. If it’s broke- fix it! Peeling paint is an eyesore, and really stands out. It also starts the thought in a buyer’s mind “this place needs work”, and affects their mindset when it comes to making an offer. Loose doorknobs, railings, wonky gates – fix it now for a greater impact.
  5. Add some welcoming touches! It’s amazing the impact of a few seasonal touches at the front step: pumpkins a fall flowers, a nice doormat, spring flowers, even winter evergreens and a wreath can just add a lovely welcoming touch, that sets the showing off on the right foot!
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How are the increased mortgage rates affecting you?
There is no doubt that the recent 100 basis point increase by the bank of Canada has affected a lot of home buyers looking at getting into the housing market right now. But the sky is not falling because of these interest rate hikes. Money has been on sale for the past couple of years and as all sales do, it had to end at some point. But the interest rates right now are where they had been over the past decade or so +/- a few basis points now and then, but on average, the current 5-year mortgage term is on par now from where it has historically been the past decade, so for those who have been in the market for a while now see this as a normal interest rate. Those new into the market will no doubt affect their buying power as their buying dollar and perception have changed.
 
I remember when I first started in the business in 1991 we had real estate sign riders that said "5-Year Mortgage 9.75%!!!" as that was a huge deal to break below 10% as it had been over 10% for the past decade or so before that.
 
Yes, this has put some pressure on some home values and when we look back at what some homes have sold for this past spring and compare them to what they could get right now, they would have to sell at a loss right now, if they had to sell. But if those home buyers in the spring took out a 5-year fixed mortgage at 3.5 at a $400,000 purchase price, their payment over 25 years would have been $1973/month. If that same home would sell right now for $350,000 with a 5-year mortgage at 5%, the homeowner would be paying $1999/month, so those people who "overpaid" in the spring are still paying less per month than someone who paid $50,000 less for their home right now, so it is all relative. The problem comes up when the spring purchaser has to sell in today's market.
 
I feel that the biggest influence on today's housing market is not the increase in interest rates, but overall inflation. The cost of everything has skyrocketed over the past 2 years putting a ton of pressure on everyone's overall budget at home. So when the government tells us that inflation is 8.1%, we all know that in reality, it is much, much higher than this. I was speaking to my butcher this week and the cost of pork has risen 120% in the past year, and just that morning, his chicken supplier gave notice that chicken breasts were increasing by 30% next week. This is over and above all of the other increases in chicken in the past 18 months. His carbon tax recently increased by 50% and is 100% higher than it was just 2 years ago when there was no carbon tax. This new tax adds an additional $2000/month to his expenses each month. All of these extra costs have to be passed down to the consumer to keep businesses profitable, making everyone's discretionary spending budget less and less each month. This make's it harder and harder for purchasers just getting into the market to save for a downpayment. Already in the past 5 years, we have seen more and more parents having to help their kids with the downpayment for their first homes, and as it gets harder and harder to save, I am sure that we will see more and more of this. 
 
In the past 32 years of selling real estate in Winnipeg, I have seen it all and during each crisis that has come and gone. And during each crisis, the market has still chugged along as people will always need to buy and sell homes due to differentiating circumstances. So I wouldn't be afraid to buy something in today's real estate market, but it may be volatile for a bit so I would buy and hold until the rampant inflation subsides and we can go back to a more stabilized & predictable economy. As always it is important to have the right real estate team behind you and working for you for all of your real estate transactions to ensure that you are buying & selling right.
 
Geoff Archambault - Team Lead - Archambault Team
Century 21 Advanced Realty 
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