Chat Plus

Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

Q Arlington: Is one time of year better for buyers than others? My apartment lease runs out in August, and I want to buy a condo.

A Elizabeth Razzi: Whoa, there. Talk like that can trigger a real estate agent stampede. Seriously, in this market a buyer will have lots of selection and good bargaining power to boot. You can spend the next several months researching neighborhoods and trying out commutes.

You can narrow your list of targeted condominiums and talk with association managers about how many units are being rented. It's better for you if relatively few units are occupied by renters because you will have an easier time getting a mortgage.

Maryann Haggerty: Typically, the market is liveliest in spring, with more listings and (maybe) more buyers, though it's hazardous to make predictions in the current climate. August is very, very slow in this region, for home sales as well as everything else. So some sellers may pull their listings off the market, and those who remain will be particularly happy to hear from you.

Plan on renting month by month when your lease runs out, for maximum flexibility just in case you haven't found the perfect place.

E.R.: The long lead time also gives you a chance to pull your free credit reports ( http://https://www.annualcreditreport.com), buy a copy of your credit score ( http://www.myfico.com) and polish up any tarnish in those credit records.

Oh, and save like crazy so you will have cash for a down payment -- and for the finishing touches you'll no doubt want after moving day.

The next Real Estate Live chat will be at 1 p.m. Friday.