The days may be shorter, but the list of benefits of home shopping lasts.
The real estate market is recession and recession, just like the season. Spring markets grow exactly in line with the flowers, but fall markets often fade with leaves – and this slower pace can be good for consumers.
If you’re in the market to buy a home, here are five reasons why fall can be a great time to buy.
1. Old inventory can mean a deal
Sellers tend to put their homes on the market in the spring, often listing their homes too high outside the front door. This can result in price declines throughout the spring and summer months.
These sellers have less chance of catching buyers after Labor Day. By October, you will probably find sellers and prices desperately below the market value of the home.
2. Fewer consumers are competing
Families who want to be in a new home at the beginning of the school period are no longer shopping at this time. This means less competition and more opportunities for consumers.
You will probably see fewer buyers in the open house, which could signal a great opportunity to offer.
3. The seller wants to close at the end of the year
While a dwelling is where the owner lives and evokes memories, it is also an investment – a home with a tax impact.
Home sellers may want to take advantage of profits or losses this tax year, so you can see homeowners wanting to agree so they can close before Dec. 31.
Ask why sellers are selling, and look for listings that offer incentives to close before the end of the year.
4. Holidays that motivate sellers
As the holidays approach, vendors are eager to close so they can continue to plan their parties and events.
If the home is not sold in November, sellers are likely to be motivated by the disruption caused by the listing of the home for sale.
5. Worse weather indicates more deficiencies
The dark fall and winter months tend to show a lack, making it a great time to see the true colors of the house.
It’s better to see the shortage in the house before offering than to be surprised a few months after you close it. In fact, the best time to conduct a property inspection is when it rains and snows, as major problems are likely to be exposed.