As we enter the 'dog days' of summer savvy real estate investors are scouring listings to find those 'diamonds in the rough' that have been lingering on the market. Often they were originally listed too high and they go through multiple price reductions as new inventory comes to the market-often going unnoticed. August tends to be a slow month as many people will take advantage of the last weeks of the summer to get away, and others to prepare for the coming school year. Meanwhile, motivated sellers who want to 'move on' or need to sell will be reducing the prices of their homes (if they haven't already done so) in order to try to sell before the colder winter months are upon us.
For the experienced buyer this means that there are good deals to be had. Some homes in our area will sell at 10%+ less than they would in the spring market. This is often a time when 'flippers' will try to find an older, less updated home, to remodel and sell in time for the spring market. In our area this is also an excellent opportunity for buyers to purchase new homes that have been sitting on the market due to a current oversupply of inventory. Nearly 1/3 of our 2015 home sales occured between September and December.
Labels: Fairfield County real estate, Real estate investing, Top real estate agent, Westport CT real estate