When you buy or sell a home, you're likely to get lots of unsolicited advice from well-meaning friends and family. And a portion of the advice may be helpful while some of it, well, may not be so helpful.
When it comes to real estate, people tend to make generalisations based on their own experiences and speak in absolutes, when the reality is more nuanced.
Here are the five most common pieces of advice given to people thinking of buying or selling:
"Look for a deal during the holidays."
On the other side of the coin, I've seen many buyers who were convinced that they could score a great deal on a home by looking around the holidays. Like much advice, there is a nugget of truth to this concept. Fewer buyers are looking during this time period. Sellers who list during the holidays may be selling due to necessity, like a job relocation, and therefore be more motivated to sell quickly.
Sale price is ultimately a function of market dynamics and less a function of the season. The key is to be patient, since it may take many months for the right opportunity to present itself. I also suggest that buyers look at homes that have been on the market for a bit of time. These homes may be good opportunities for negotiating a sale under asking price. Once a listing gets stale, you're likely to have more negotiating power, regardless of the time of year.
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