Buying This Winter? Avoid These Mistakes!

If you are buying Lake Tahoe real estate, you probably hope to get the best price on a home for sale in South Lake Tahoe.  In most markets, winter is considered “The Buyer’s Market” due to less demand and lower prices. As Lake Tahoe is a destination market and winter real estate can be very busy, that is not always the case for our area.  Especially with today’s current conditions. Homes for sale in South Lake Tahoe may not be pending with multiple offers within 24 hours of being listed, but there are still serious buyers trying to take advantage of current interest rates and less competition. if you are buying South Lake Tahoe real estate this winter, there are some blunders you should try to avoid.

Expecting A Screaming Deal

In the winter, prices are usually a little lower, the sellers are typically motivated and bidding wars only happen in the summer……right? Not quite. While historically this has been the case, and may still be in certain areas, this summer’s tight inventory kept a lot of buyers from getting into a home for sale in South Lake Tahoe. Which means there are a lot of serious buyers still looking to purchase South Lake Tahoe real estate. If you are a buyer, do not underbid hoping that a motivated seller will settle and take it. We are no longer in that kind of market and the last thing you want to do is offend a seller and lose the house you were hoping to purchase.

Being Inflexible

In this market, you need to make like Gumby and bend. When a home for sale in South Lake Tahoe within your search parameters comes on the market, run! Don’t walk! Seriously, as a South Lake Tahoe realtor, I know the feeling all too well of simply wanting to go home and kick my feet up after a long day. With today’s current conditions, you could miss out on a home if you don’t strike while the iron is hot. So if that means running to a new home during your lunch break or at night when your favorite show is on, do it.

Ignoring Your Imagination

Speaking of being inflexible, try to use your vision when it comes to searching for South Lake Tahoe real estate. So the property isn’t “Pinterest perfect” and it may have heinous wall paper, shag carpeting or a sad looking yard. Don’t write it off! If it has the desired beds, baths and is in your dream neighborhood within your price point, think about the possibilities. Most yards don’t look great in the winter and cosmetic stuff can be done over time. By looking for the already perfect and not looking at the potential, you could miss out on a fabulous home for sale in South Lake Tahoe.

Holiday Debt

From Halloween to January 2nd, you may feel like all you are doing is swiping the plastic and you are not alone. From gifts to purchase and outfits to wear to parties, the holidays are a very expensive time. If you are purchasing South Lake Tahoe real estate, you should keep an eye on how much you are charging. Even if your credit is perfect, a high debt to income ratio can have a bad impact on your approval. Either set a strict budget or pay things down as quickly as possible to make sure there are no last minute changes to your loan.

Not Paying Attention To Closing Delays

In life, things rarely go as planned and South Lake Tahoe real estate is no different. When it comes to closing delays, keep a close eye on tasks that need to be finished or completed so you can move ahead per schedule. There are certain things that could pop up, such as repairs that can’t be done during heavy rain or snowfall. Pay attention so that you aren’t dealing with a delayed closing.

For more information on buying or selling South Lake Tahoe real estate, call me at 530-308-4762.

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