August 2016 Newsletter - What are the Best Weekends to Buy Homes?
Before we get started with the newsletter, note that we have a special program just for investors at the bottom of this email. If you want to be included in this program, you're going to need to read that part and reply to this email.
The beginning of August means the beginning of the cooling off period for the Austin real estate market. When the “summer moving season” comes to an end, we’ll start to see a couple of patterns emerge: Sellers who listed their homes for too much money will become more motivated as the number of showings drops off, which will lead to a lot of price drops posted in the coming weeks and better deals for buyers on the remaining available inventory.
If you have been on our newsletter list for a while you may remember this article that we shared last November regarding the seasonality of the market and the predictable fluctuations that occur throughout the year based on data gathered over an 8-year period. You’ll notice on the graph in the article that the second and third week of August is when we start to see the dip that continues into December.
The end of the summer season presents a unique opportunity for buyers though: the best time to buy is on a three-day or holiday weekend at the end of the season: when the less motivated or savvy are travelling, partying, or otherwise occupied.
The next holiday weekend coming up is Labor Day which falls on September 2nd-5th. It’s the first holiday weekend after the summer moving season is over, and a big travel weekend as well: a great time to scoop up a deal. Here’s another little secret: most agents don’t consider these trends when advising their sellers, and many even encourage their clients to LIST on Labor Day.
Other weekends to look for deals:
- Columbus Day weekend, October 7th-10th.
- Veterans Day weekend, November 11th-13th.
We’ve been doing this long enough to know that if we can get around listing a home on a holiday weekend, then we avoid that as much as possible--but that’s all the more reason to make a move on a home that is.
We sell property throughout the year when our clients have needs that don’t correlate to the “prime” time of year and we still knock it out of the park for them with our marketing and pricing strategies, so there’s obviously no “bad” time to list with us. That said, there are more strategic weeks to list homes when the situation allows for it.
Things slow down pretty considerably after Veterans Day, with especially slow periods during the Thanksgiving and Christmas holidays. The winter can be a good time to get a deal if the right property comes along and you’re looking for something specific, but the amount of available inventory is generally a lot lower during this time. However, the second and third week before Christmas will generally see an uptick in pre-market or pending listings, which can be a great (but somewhat risky) strategy if you are looking to buy low or sell high. I’m happy to talk to you about timing the “silly season” if you want, but that's another conversation.
Finally, I want to share something really special we are working on: We are launching a “Top 5 Deals of the Week” email soon targeted toward our income property investors, but we’re not going to send it out to everyone.
Our agents are actively scouring the MLS, seeing properties, and pulling comps for this initiative. If you’re an investor or someone that is interested in becoming an investor, please reply to this email so that we can start a conversation. Lots of people get our newsletter to keep tabs on the market, but we’re only going to send these great deals to people that we’re actively working with. Don’t worry, if you’re not in the market now for a home or investment property, we’re happy to add you later, but we want to talk to you first!