When is the best time to buy a property?

Q: Gerald, we’re thinking about buying a property. When is the best time to buy a property?
Neville, Princeton, NJ

A: Neville, the best month to make an offer on a house is January. Fewer buyers are willing to house-hunt during the winter, so there’s less competition and fewer bidding wars. Sellers also tend to be more motivated than they will be in the spring, when there are more buyers. This may be because they’ve just received their credit card statements after a Christmas spending spree and are feeling the need to tighten their financial belt. Plus, their decision to try to sell their home in the winter means they’re willing to risk listing during a time of the year when properties typically don’t show as well. Thanks for your question, Neville. Good luck. For more real estate tips and information, visit performanceproperty.com. I’m Gerald Lucas and I’ll see you again soon.