East Coast Snows Cooling Housing Market

If you thought we had bad weather in Montana, imagine trying to buy or sell a home back east! In some areas, the New England area has experienced over 8 feet of snow and has really slowed down their local market.

Real Estate agents have confirmed cancellations of nearly a month of weekend open houses along with daily showings. Buyers have had to tour homes with leaky roofs and furnaces on their last gasps. Real estate deals have even been held up to make sure the home inspector can see important home features that have been buried under ice and snow. Granted, if a buyer wants to know whether his/her future home will hold up during subsequent winters, this may put an end to any worries. But wow, what a hassle the snow can be.

If a home does manage to sell, sellers have had to fight sub-freezing temperatures while moving out beds and furniture.

Currently, many sellers seem like they are waiting for the weather to clear up before they put their home on the market, which may lead to a busy spring. January home sales had dropped this year, but perhaps weather had a lot to do with it.

Oftentimes, a home purchase in Montana exposes buyers and sellers to the elements in the midst of their transaction. Although it probably won’t be to such extremes, it is important to keep the weather in mind. Luckily, the buildings in Montana are generally well equipped to handle crazy weather.  

Sometimes, the weather can actually be advantageous to buying or selling, based on the smaller pool of listings and buyers. Winter listings have a chance to stand out from the pack while buyers may have less direct competition for homes. Of course, those variables also depend on the current market conditions of an area at the time.

 

 

Source: http://www.bozemandailychronicle.com/ap_news/business/historic-snows-causing-headaches-for-real-estate-industry/article_4762f8b1-8205-5968-86d0-e53ec1b52b6e.html

 

 

Hart Real Estate Solutions

www.hart.realtor

406.585.0000

Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 0 commentsHart Real Estate Solutions • March 03 2015 02:48PM

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