Minnesota

2 Replies

How about the weather up here in Minnesota!?

Anyone have any ideas about the market trends in the winter up here?

Thanks!

Market is pretty easy to figure out in the winter - There are less houses for sale, less buyers in the market, houses typically take longer to sell and prices are typically reduced.

I wouldn't avoid listing a house for sale in the winter but it is not typically a seller's market.  

I do like the winter for purchasing houses in the winter though.  A motivated seller may be willing to take a haircut to get out from under a house that has sat on the market for 2 months without any offers.

I personally like to change my focus during the later winter months.  If you are searching for a relatively turn key buy/hold you may experience some difficulty finding tenants for them with snow on the ground for obvious reasons.

However, if you speak to a contractor, his subs are likely not busy at work and they will be happy to get the business for a rehab in what is traditionally a slower season for them as well.  If there is a major rehab needed for a potential flip that may take a couple months, this can put you right back in the sweet spot of early spring.

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