While most of us consider the Spring real estate market to coincide with bulbs blooming and crocuses popping their heads out, it should really be renamed the Winter Market. Once Christmas credit card bills and the indulgence of holiday time comes to an end, so does the resting brain. Every year buyers get a second wind around mid January and like to start their search for a new home. It's a great time for sellers to put their homes up for sale as traditionally there isn't much 'product' (ie; homes) on the market. With a burgeoning group of buyers this can lead to disappointment and not much variety. Having said that, each year more and more sellers are seeing this trend and 2011 is one of the better winter markets that continues to grow. By 'Spring' there will be more competition (ie; more homes for sale) and buyers will have more options. So, here's a tip. Don't worry that your garden isn't in full bloom for prospective buyers in February/early March. Pull out some pictures from last year's garden party and put them together in a binder for potential buyers to see just how lovely the garden WILL look when the thaw arrives. Because once the weather warms up, homes will be popping up like tulips and you may have more competition for a buyer.
For buyers, your time is 2011. As predicted late in 2010, come Spring, the market trend is predicted to be more stable and without the huge discrepancy in terms of supply/demand seen in the last 6-7 years. So, it looks like a win/win for sellers and buyers in 2011. The government has curbed its lending strategies, but for those who were able to afford a home prior to this new legislation, they will probably still be able to now. After all, you don't want to be buying a home when you only have the bare minimum eligibility anyway. It's risky and when buying a home, you want to feel safe and 'sound'.
