NASHVILLE, Tenn. (WTVF) — For many people, housing costs consume the largest portion of their budget each month.
While home prices aren't dropping in many areas of Middle Tennessee, the good news is that they have leveled off somewhat.
Combined with the colder months ahead, this could present an opportunity for folks looking to buy.
If you're thinking of buying a house this winter near Nashville, here's what you need to know if you're looking for a deal.
According to CBS News, the area around Nashville is expected to see about a half of a percent increase in home prices at the beginning of the new year, but local experts think it's probably less than that.
I stopped by Greater Nashville Realtors and talked to realtor Josh Stimpson.
"Typically, you are going to see a lull during the winter months," Stimpson said.
That lull means you could land a deal if you're ready to buy.
Stimpson said prices aren't super negotiable, but other aspects of the deal are, with many concessions on the table.
"I've seen situations where sellers are offering to pay a year's worth of HOA fees up front for them," Stimpson said.
Stimpson said some sellers are offering to pay for closing costs as well.
A seller can even use some of the money they make off the deal to help lower their monthly mortgage cost.
"You can ask that seller to contribute funds from their proceeds to buy your rate down to make the house a little bit more affordable for you," Stimpson said.
Stimpson said these concessions are more likely the longer the home has been on the market.
It sounds like the busy season for real estate will pick up this spring, but you could get a decent deal if you brave the cold.
Click here for more tips for first-time home buyers.
This story was reported on-air by journalist Robb Coles and has been converted to this platform with the assistance of AI. Coles verifies all reporting on all platforms for fairness and accuracy.
Do you have more information about this story? You can email me at robb.coles@newschannel5.com.
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