The Crazies and 3 Reasons the Real Estate Slows Down in the Fall

Along with the colder temperatures, the Lakeville real estate market is cooling off as well.  Next to the passive aggressive behavior in the parking lot at Target, the housing economy is about as entertaining as it gets.  Every Fall, realtor blogs and news outlets come out with predictions of the end-of-days and the housing-zombie-apocalypse.  And they’re right - sort of.  Please remember:

1  It’s cold in Minnesota in the winter, and people don’t really want to look at houses.  This means overall demand will be lower.

2. It’s Fall, the kids are in school, and most parents don’t want to move their precious gem from his nice suburban trappings and soccer team.  We have it pretty good in the ISD 194 school system.  

3. There are holidays coming up. Having showings while sitting around the table eating turkey is inconvenient (I’ve done this, BTW - it’s more awkward than it sounds - we were offered food).  

So the housing inventory falls like it does every year around this time.  And I believe that every market condition is both a problem and an opportunity.  

What is the opportunity here you ask?  BRING OUT THE CRAZIES.

The crazies are awesome.  They’re the winter season home shoppers.  They *have* to buy in a market with *fewer* listings.  This might be why sellers get a higher percentage of the list price in the winter.  And considering where Lakeville home prices (check the right side of that page) are trending - winter might be an amazing season to sell.   

Banks seem to release more properties in the winter.  I admit I don’t have figures on this, but I seem to show more foreclosure properties in Lakeville during the winter.  Ever been in a house without heat when it’s -20F out?  Only the crazies like it.  

Stay warm, keep the Faith, and if you see me out showing homes in the snow - offer coffee.  Thank you.