Alaska Home for Sale: Buying a Home in the Off Season
by Dan Wolf
on Tuesday, January 21st, 2014 at 9:06am.
There are fewer houses on the Alaska real estate market right now, but there are advantages to buying an Alaska home for sale in the winter.
No matter what everyone says, buying in homes in Alaska in the winter is not a bad thing. Many people think that if you buy a home in the winter, you have missed the market window for the year.
Want to know the truth? There are pros and cons to buying an Alaska home for sale in the off season.
When Is The Buying Season for An Alaska Home For Sale?
In Alaska, buying a home for sale between May and September is considered the peak buying season. During the winter months, inventory is low, its cold and many homes come off the market so sellers can enjoy the holidays with their family.
During buying season buying an Alaska home for sale is competitive! Inventory is higher, bidding wars are prevalent and rates rise.
Pros and Cons of Buying an Alaska Home for Sale in the Off Season
Yes, buying a home in the off season in Alaska is uncomfortable because there are fewer homes to choose from. There are not a lot of open houses. And it's cold and wet outside. But...
There are a number of things that are working to your advantage:
1. There will be less competition for the Alaska home for sale that you find. Economics 101 says where there is less competition there is the possibility of a bigger discount.
2. You can be less aggressivewith your first offer because sellers that keep their house on the market during the winter are more flexible when negotiating. They are known to extend the closing time and agreeing to concessions
3. You get more attention from your real estate agent because we are not as busy in the winter in Alaska.
There are also a number of things working to your disadvantage as well:
1. The selection is diminished because the number of listings on the market in the spring can be up to 60% higher than the winter.
2. People are not eager to show their Alaska home for sale during the holiday months, they want to spend time with their families and enjoy the holidays.
Regardless of the pros and cons, if you do find something you like this winter, pull the trigger and take advantage of the lower rates and opportunities lenders offer during the off season, including lower fees.
Looking to buy an Alaska home for sale in the winter months? Contact us today, we are not afraid of get out in a little snow and ice and find your dream home.