Star Loza, Home Buyer in Palm Desert, CA

Is it true that the best time to buy is during November or December? Will prices drop lower in those months?

Asked by Star Loza, Palm Desert, CA Tue Sep 2, 2008

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Tom Sullivan, , La Quinta, CA
Fri Oct 17, 2008
This is not a normal market by any measure. If you have cash or mostly cash and can also offer a fast close, NOW is the time to buy from a seller who was motivated even before the sky fell over us all. Cash is king and the sellers need it.
0 votes
Lynda & Steve…, Agent, Palm Desert, CA
Tue Sep 2, 2008
All other factors being equal, late summer/early fall, is the best time to expect lower prices, especially for sellers who have had their homes/condos for sale for a while. It is interesting, that in this buyers' market, many sellers are willing to negotiate much lower than their listing price, but won't actually lower their listing price. So be certain to work with an agent who knows the area you are buying in and can help you determine the best value for what you want.

Having said that, there are motivated sellers any time of the year. Sometimes you have to make an offer to fully evaluate the motivation of the seller. In general, the longer a listing has been on the market, the more motivated the seller. However, I have had sellers price their property to sell immediately and recently sold a home in 2 days because the seller was extremely motivated and priced the home accordingly. Similarly, I have worked with sellers who would like to sell, but are willing to wait years to get the price they want. There are just so many variables. Regardless, this is definitely the time to buy.
Web Reference:  http://www.stefanirealty.com
0 votes
Tom Sullivan, , La Quinta, CA
Tue Sep 2, 2008
Star,

What Homa says is true most places and nationally because of the holidays. But, it is not true in a snowbird resort area like our desert.

Tom Sullivan ~ 832.0777
Coldwell Banker Palm Desert
0 votes
Homa Moaddel, Agent, Foothill Ranch, CA
Tue Sep 2, 2008
Hi Star,

The market in general slows after October and picks up again after superball in January. But there are many investors buying homes that can rent. So buyers market exist but it also depends on your location and the type of homes you like to buy. Good Luck,

Sincerely,

Homa
Associate Broker
Prudential California Realty
Mission Viejo
0 votes
Tom Sullivan, , La Quinta, CA
Tue Sep 2, 2008
NO ~ the best time to buy is before then and now. While it may not make a big difference, most sellers in the Desert will try to get more when we start to get to our season when the snowbirds start arriving. This is true every year and even sellers who have been trying for months or almost a year will think the additional lookers will bring them a higher price. And, in most years that is true. The best time to look and try is now after ensuring the homes you like have motivated sellers who have been trying for a while. Your goal is to pay well below the current sales comps which are depressed. After identifying the homes you like, the seller's motivation and the sales comps, then it is very easy to make an aggressive offer!
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