When it comes to selling and buying real estate in Lake Tahoe, it is extremely common to hear people say “We are going to re-list in the spring” or “We are going to start looking in spring”. Spring is considered to be the “on season” of real estate as it seems to be the most popular time to start the buying or selling process, but that doesn’t always mean it is the best time. Truthfully, every season has its perks and downfalls and what works for one person doesn’t always work for another. Read on to see when it is ideal for you to buy a home in Lake Tahoe.
“The On Season”
The on-season is when inventory starts to increase, peak and then tail off and slow down. Peak inventory is based on location, the weather, demographics (an area with more families will probably time their move around the school calendar) and more, so every area will vary a little bit. If you’re looking to buy during the on-season, be aware of the following:
More Inventory
During the on season, there are more houses on the market to choose from. This is very desirable if you are looking for a specific neighborhood or a home with distinct details. If there are more homes on the market, you are probably going to have a higher chance of finding your dream home. The downfall is that there is also more competition which means more bidding wars, busy lenders and home inspectors.
Easier to spot flaws
The perk to sunny weather is you are going to see a lot more flaws compared to if a home is covered in snow. This could be the roof, foundation, and so much more that is all of a sudden clearly exposed. While appraisers and inspectors in Lake Tahoe are used to doing their job in snowy weather, it is nice for you personally to see everything clearly and know that nothing is hiding.
Firm Pricing
When it comes to contracts and money, things are usually always negotiable. During the busy selling season, another buyer could swoop in and snatch your spot if you pause too long. Low ball offers will get rejected quicker and any offer that has unique contingencies or requests could get pushed to the bottom of the pile. This is time where playing games with a seller is a very risky move.
During the “off season”, there is a decrease in homes on the Lake Tahoe market. Depending on the market, this could be a lot, or it could be only a slight decrease. This has a few perks. There is less competition, and because of that you might find a great deal depending on how much the seller is willing to negotiate. There are a few downfalls though. Bad weather can make it hard to get it around if you are not familiar with the area and you don’t always know what things look like under the snow.
Truthfully, the best time to buy is when it is right for you personally. If you have questions about buying real estate in Lake Tahoe, call me at (530) 308-4762.
