With the competitive summer real estate market now at its end Santa Barbara is heading into a new season with so far little change in housing inventory, interest rates and prices. So when is the best time to buy? From an investment standpoint it makes the most sense to buy when others aren’t. Santa Barbara County has historically had the lowest number of real estate closings happen in October, November, January and February, with it not being unusual for December to yield the highest number of closings for the year. If history repeats itself then the optimal timing to place an offer on a property is this month and next. By November more buyers will be placing offers, with their respective escrows closing in December.
Another great time to buy is when a property you’ve been looking for comes on the market. The phrase “timing is everything” rings true when rare opportunities present themselves. I listed a property last Thursday for a client and the very next day talked with a buyer’s agent who had a client waiting for that type of property to become available. An offer was submitted by the buyer and their agent within the next two days, with start of escrow soon to follow.
Please contact me if you do see a property that you’ve been waiting for. There’s nothing more gratifying than obtaining a home you really like and have had your sights on for a while. I enjoy bringing you the best property offerings available and appreciate your inquiries.