In the world of real estate, late November is when land sales begin to slow down and we see property interest fade until we usher in the New Year. This is largely attributed to the holiday months, when people have redirected their focus. It’s the time when everyone is preoccupied with cooking and baking, visiting family and friends, attending holiday parties, decorating their home and frantically shopping for items on their holiday gift list. If you plan to postpone searching for land until after the holidays, you want to rethink your strategy. Amid all the distractions, keeping up your land search is smart. Here are a few good reasons to continue searching for land through the holidays or begin a new search for land.
Get the Lay of the Land
Fall and winter is the perfect time to see the lay of the land. By this time of year, the leaves have fallen off the trees, and if you’re looking at land for sale in an area with annual snowfall, a fresh blanket of snow can highlight key property features such as standing timber, streams, and rock formations will stand out in high contrast. This is also a good time for buyers to evaluate what winter access will look like and make sure private country roads, which often lead to rural land, aren’t impassible.
You Might Get a Better Deal
Buyers have an increased opportunity to bag a deal. With fewer buyers actively searching for land, sellers of current inventory are reducing prices and all the new land listings coming on the market have been priced to reflect the lull of the market during this season. Sellers might be more open to accepting lower offers provided that the buyer will move quickly and settle early. In the winter, people are generally busier with work and family commitments and less likely to be out looking for rural land. Fewer prospective buyers will compete for the same properties, giving you a better chance of the seller accepting your offer.
Favorable Conditions for Property Showings
While it can certainly make things uncomfortable or difficult if you’re not a fan of cold temps, winter weather is usually very cooperative for being outdoors looking at land. For most people, it’s much easier to add a few extra layers and slip on some warm boots than it is to try to beat the scorching heat of summer, especially in the South.
Fewer Outdoor Annoyances
There are fewer annoyances to contend with when walking a parcel of land. The gnats and mosquitoes have disappeared, snakes aren’t crawling and common outdoor allergens like pollen and mold are at the lowest levels.
You Might Get a Better Deal on Your Loan
If you are planing on financing, you can often get a better deal on your loan. Generally speaking, interest rates are lower in the winter months than they are in the spring and summer. This means that you could save thousands of dollars over the life of your loan by closing during the winter months During the slow season, lenders are competing for your business and are more willing to negotiate loan and financing terms. Sometimes they will even forgo fees or reduce basis interest points. Also, fewer customers mean less paperwork, which results in a quicker and more efficient closing for the buyer.
Ready to get out there? Begin by searching land for sale on LANDFLIP. Anyone searching for land can set up a profile and set parameters for price and features.
Buying land is a big decision, so be sure to do plenty of research and consult with a land agent before making an offer on a property. Ultimately, what is most important is that you choose a timeframe that works best for you and your unique situation.
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