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Now Is The Best Season To Buy a Home

With increasing incidences of unruly shoppers competing over holiday sales, it could well be the best time of the year to be among the exceptionally few buying a big ticket item that both adds value and is long lasting. The big ticket item in this case is a home.  About one million consumers will purchase a home from November to January this year, when home prices are a bit softer.

As you may know, the typical home price tends to rise around 3% to 5% per year. This year in 2015, the gain is a bit stronger at 6% because of the ongoing shortage of inventory in many markets. But the annual price gain does not smoothly and steadily change from one month to the next. There is a clear seasonal pattern of rising prices from the spring home buying season to the end of summer. Then prices mildly retreat. Closings in January provide the best discount for home buyers, meaning that buyers get the best deal when they get the home under contract around December.

The graph below shows the median home price over the past five years. Note the month-to-month price swings that occur nearly every year with home prices retreating over the winter months. The seasonal decline is not all price depreciation of homes. A good portion of movement is driven by a higher proportion of lower priced and smaller-sized homes getting sold during the winter months. The reason for this is that families with school-aged kids are generally not in the market during the winter because they do not want their kids to be disrupted during a school year, and it is the families with kids that generally require the larger homes that carry higher prices. So not all of the decline in home prices in winter is a genuine price depreciation, but is driven partly or largely by the different mix of homes being sold this time of year.

Seasonal home price1

There is another home price measurement that can better delineate true price change from the changes in the mix of homes that are sold. The Case-Shiller price index, of which pair the latter professor won the Nobel Prize in economics, uses something called a repeat-sales price measurement. Briefly, they look at how a given property has changed in value from the first purchase to the second purchase. An algorithm is then applied over all properties sold to reveal a price index over time. Though there are caveats and statistical noise, the Case –Shiller index does a good job of capturing a genuine price change uninfluenced by the type or mix of homes sold at certain time of the year.

Yet even in this price index, one notices mild swings in the data with prices falling over the winter months. Real estate professionals know this to be true in everyday business since there are far fewer buyers shopping over the holidays; as a result, listed homes staying on the market for a longer period. In short, there is a discount to be had for the few buyers purchasing over the holidays.

 

information and full article:  http://www.forbes.com/sites/lawrenceyun/2015/12/02/best-season-to-buy-a-home/


Posted on December 4, 2015

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    🚨 Welcome to REAL, Ryan! 🚨 

Please help me give a warm welcome to @ryanburksrealtor, one of the newest additions to our REAL family!

Ryan is a seasoned agent in Waynesboro, VA, with a background in homebuilding and a true heart for helping people navigate their real estate journey. We first connected at a conference years ago, and since then, Ryan’s been a familiar face—showing up to classes, webinars, and implementing what he’s learned. 🙌🏼

When he reached out recently for mentorship and alignment with REAL, I was deeply honored. It’s agents like Ryan—committed, community-driven, and collaborative—who are helping us grow something really special in the Shenandoah Valley and beyond.

✨ Stay tuned as we announce even more incredible agents joining our REAL crew this month!

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    JUST LISTED | 🏠 824 Nassau Street Charlottesville VA 22902 | MLS #666775 | $299,000 | 🛏️ 4 bed 🛁 2 full bath | 🎉 OPEN HOUSE Saturday, July 12th from 11 AM - 1 PM!

This 4-bedroom, 2-bath attached home offers an open main level with a spacious kitchen and living area that’s perfect for entertaining. A convenient first-floor bedroom adds flexibility for guests, a home office, or multi-generational living. 

Upstairs, you'll find three additional bedrooms, a full bathroom, and a laundry room— 2 bedrooms have been freshly painted! Whether you’re looking to walk to your favorite Belmont restaurants or grab a quick coffee downtown, this location can’t
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    🏡 Just Hit the Market! ✨

Two stunning new listings, each with its own irresistible appeal, are now available!
Your next dream home might be one tour away. Let’s go see them!

JUST LISTED | 🏠 34 Zephyr Road Palmyra VA 22963 | MLS #666386 | $375,000 | 🛏️ 3 bed 🛁 2 full bath | 🎉 OPEN HOUSE Sunday, July 13th from 11 AM - 1 PM!

JUST LISTED | 🏠 2777 Peppervine Court Charlottesville VA 22911 | MLS #666469 | $725,000 | 🛏️ 5 bed 🛁 3 full/ 1 half bath | 🎉 OPEN HOUSE Saturday, July 12th from 12 PM - 2 PM!

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    COMING SOON | 🏠 2777 Peppervine Court Charlottesville VA 22911 | MLS #666469 | $725,000 | 🛏️ 5 bed 🛁 3 full/ 1 half bath | 🎉 OPEN HOUSE Saturday, July 12th from 12 PM - 2 PM!

Located in the highly desirable FOREST LAKES SOUTH community, this 5-bedroom, 3.5-bath home is ideal for both everyday living and entertaining. The beautifully updated kitchen features RECYCLED GLASS Countertops, new CABINETS, SINK, BACKSPLASH, and APPLIANCES - all filled with NATURAL LIGHT and opening to the inviting family room. From there, step out to a lovely SCREENED-IN PORCH perfect for relaxing!

 A dedicated HOME OFFICE adds flexibility for remote work or study. Upstairs, you'll find a SPACIOUS PRIMARY SUITE with a PRIVATE BATH, THREE additional bedrooms, and a FULL hall bath. The FINISHED BASEMENT includes a 5th bedroom, a LARGE REC ROOM perfect for game nights or movie marathons, and a BONUS ROOM ideal for a gym, studio, or creative space. Enjoy peace of mind with a NEW ROOF (2021) Situated at the end of a quiet CUL-DE-SACand within WALKING DISTANCE to both the Elementary and Middle SCHOOLS, this home truly has it all!!

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    From all of us at Story House, wishing you and your loved ones a joyful, safe, and spark-filled 4th of July!

🇺🇸 Happy Birthday, America! ✨

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