Buying homes for sale in Lake Tahoe during the winter is usually a great time for buyers. Especially if it is a dry winter. If we are getting hit with storm after storm, then the ski lovers usually get a little more serious about purchasing Lake Tahoe real estate and it can create a market similar to summer. Of course with Covid-19, this winter is unlike any other. Because so many areas, Lake Tahoe included, were on lockdown from mid-March through May, spring and summer buyers are still out and about looking for homes for sale in Lake Tahoe. Especially when you add in the record low inventory and record low mortgage rates. In a nutshell, this winter is shaping up to be another seller’s market. Here is what to expect if you are buying:
Get pre-approved ASAP
With so many sellers wary of letting strangers into their homes, gone are the days for “Lookie Lous” to casually tour homes they have no intention of buying. Now, having your loan tells sellers you are serious. It also tells you how much you have to spend so you don’t waste time looking at homes for sale in Lake Tahoe that you cannot afford. Plus, when you do find the one, you are able to move faster. In a market with limited inventory, that can make the difference between getting your offer accepted and having the property go pending before you can even put your offer in.
Know what you want BEFORE you start the search process
Covid-19 has changed what we want in a property. Prior, open concept was a huge hit. Now that people have to work from home (and do countless zooms, webinars and video chats), buyers want a little more privacy and areas for everyone to retreat so they can do virtual schooling and work without interruption. When you know your deal breakers vs your bonus items, you save everyone’s time and are focused on the Lake Tahoe homes for sale that matter.
Start your home tour virtually
Virtual tours are quick, easy and safe for both buyers, sellers and their Lake Tahoe Realtor. They also are a great way to get a good idea of a property in real time. What may look good online thanks to professional photos, may not be what it appears touring through a video chat. OR! It may be the dream home. Either way, these newly embraced virtual tours allow folks to limit their exposure and stay safe until they find a home worth exploring.
Want to make an offer? Move fast and make it stand out!
Lake Tahoe real estate is seeing record low inventory, which means “blink and you’ll miss it”. Buyers should be prepared to move fast and work closely with their Lake Tahoe Realtor on how to craft a competitive offer that stands out from the crowd. This could be waiving contingencies, offering more money or being flexible on the moving timeline.
For more information on buying Lake Tahoe homes for sale this winter, feel free to contact me. I would be happy to help!