While spring may notoriously be the best time to buy real estate, fall may be the new ideal season to buy a home. Here are five reasons why fall buying is “in season” this year.
Many people consider fall to be the off-season in real estate, but in many cases there can be just as many homes as in the spring or summer season. This means you can take advantage of new inventory and re-positioned old inventory that did not sell in the prime season.
This may put you in a great position to negotiate. Many sellers are very motivated to sell before the holidays. If possible, buyers should let these sellers know that they can close before Thanksgiving or before the school winter break.
Sellers are ready to sell.
Some sellers who put their homes on the market during the prime selling times of spring and summer might have been a tad overconfident by listing their homes for more than buyers were willing to spend. After months of no action, these sellers are often ready to make a deal. Because there are fewer buyers and because the sellers are now eager to sell, they are more inclined to take a lower offer than to wait another six months for spring to come around.
Sellers mean business.
Not all homes on the market in fall are summer leftovers. Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. Maybe they need to move because of a job. Sellers with houses on the market in the fall tend to be serious, meaning sellers could be more open to negotiating and accepting a lower offer.
Take advantage of tax breaks.
You may be able to make a dent in what you owe when you become a homeowner by buying in the fall season. Property tax and mortgage interest are both deductions you can take for your whole years’ worth of income. Any payments that are made prior to the end of the year are tax-deductible. This can make a serious difference in the amount you owe the government at the end of the year.
You can be the center of attention.
Spring and summer tend to be the peak season for real estate, which means there are many home buyers and sellers on the market. In the fall, most real estate support teams are more available to walk you through the process. This gives your mortgage lenders, title companies, inspection professionals, and others the ability to be quicker to respond and more accessible for questions and concerns. As always, you can count on me in any season for all of your real estate related questions!
Speaking of mortgage lenders, did you know that mortgage rates are still at a record low? Now is the perfect time to consult a trusted mortgage advisor at Stanford Mortgage. As part of the Select Group, they offer the best of mortgage services and can find the home loan that is right for you.
I would be happy in answering any of your real estate questions about the fall market. If you are interested in buying or selling a home this fall don’t hesitate to contact me today!