Its not yet 2015 but no doubt those thinking of buying a home in Darien or just about anywhere are all wondering the same thing. When should I begin my search? Is January too soon? May too late? Do prices spike in the spring? Is there anything wrong with homes that didn’t sell over the winter? What do I do first?
These are all reasonable questions with simple answers. As you’ve undoubtedly heard, all real estate is LOCAL. What holds true in one region does not work in another. If your aim however,is to buy a home or condo in Connecticut, the answer is basically the same. The new home market starts officially for Realtors (this is when we sign up listings)in January but the truth of the matter is that if you are a buyer, the inventory blooms along with the crocus. If you’ve seen everything out there up until now, you will most likely have to wait until early spring…at least March. Right or wrong, homeowners believe that bad weather deters buyers and so tend to list their homes when the weather is fairer and their properties are looking their best.
There are homes on the market now, which have been hanging around since last fall or before and NO that doesn’t mean there is anything at all wrong with them. Homeowners may have simply “missed” the spring market and listed during a slower ,fall season. They may also have overpriced their properties which puts a winter buyer in a unique bargaining position since the homeowner is likely to be more negotiable now.
If you haven’t seen whats out there and you know you wish to live in Darien for example,call a Realtor and take a tour. I routinely squire people around in the winter, and bring them up to speed on the amenities, schools etc. Then, when the inventory improves, they know what they are looking for, in which neighborhoods ,and what the proper pricing is. This enables them to jump on the most sought after homes.
Oh, one other thing. If you are entering into a competitive real estate market in 2015, and Darien CT surely is one….GET PREAPPROVED. In situations where there may be multiple buyers, you will not be considered until you’ve been vetted by your lending institution!
The early bird catches the worm….in Darien real estate for sure.
For a free copy of the 4 color magazine,”Welcome to Darien, A Guide to Newcomers,” contact me at [email protected] or 203-554-0951. Likewise if you’d like a tour of Darien or surrounding towns. Happy New Year!