Reading Property Listings? 3 Signs That House Is A Steal

These days, prospective homebuyers can learn a lot about different homes just by checking out critical details online. From photos of the property and tax history to school ratings and aesthetics, there are a lot of pieces of information to ponder. When you read property listings, pay attention to these three things that could indicate a great deal. 

1. Timing

The housing market has yearly trends, just like the stock market. Houses that are listed in the first half of May tend to sell faster and for more money, while houses listed during slower months may not attract as much attention. However, as a buyer, you can pay attention throughout the year to listings posted at strange times, or for details in the online property listings that indicate a motivated seller. 

Winter typically tends to be the slowest season for selling and buying homes, since most people try to avoid moving in the midst of a school year or around holidays. If people list a home during the winter, they may be putting it up for sale because they need to sell, not because they want to sell, which could help you to snag a better deal on the property. Look for information in the listing that could indicate a strong desire to sell, such as "willing to negotiate" or "motivated seller." 

2. Neighborhood

If you notice that the sellers talk about the neighborhood repeatedly in the house listing, it could be a sign that the area is warm, welcoming, and safe. Look for a listing that talks about the perks of the area, such as nearby parks or social scenes, as it could indicate a happy, bustling community. 

3. Recent Renovations

Sometimes, homeowners overlook just how expensive homes can be to fix up. New flooring, roofing, or structural work can get incredibly expensive quickly, so watch out for a house that needs a lot of work. If a home has been renovated recently, remember that it could mean you don't have to pay for those repairs or improvements down the road, which means the home may be a better deal. 

If you find a home that you feel good about owning, it's important to start the process of submitting an offer as quickly as possible, especially in competitive markets. Talk with a real estate agent about how to move forward on different single-family property listings, and don't be shy about doing everything you can to submit as tempting of an offer as possible. You never know, that house could be the place you call home for many years to come.