Spring and summer usually get the most attention for home buyers and sellers. It’s no wonder why. It’s hot, the kids are out for summer, and what better way to spend your Sunday than walking around to open houses? So, it might come as a surprise to you that fall may actually be the best season to buy a home. Let me tell you why.
- Not as much competition. Like I just stated, people love to buy homes in the spring and summer because the temperature is great! What that means for you? Fall will bring you less competition, AKA less bidding wars for you to lose your favorite home to. So, stay strong my friends. There may not be as many homes, but patience and perseverance will pay off.
- Seller’s are easier to negotiate with. Imagine you’re a seller trying to get someone to buy your home before the colder months hit. If you’ve had your home on the market all summer, then chances are you are going to be pretty desperate come fall. Now, imagine you’re a buyer. You see a home that’s been on the market for three months, you will most likely give an offer lower than asking price and chances are you’ll come to an agreement in your favor.
- Fall comes with lower home prices. According to RealtyTrac’s analysis of more than 32 million home sales over 15 years, October is the best month to buy a home. Their data showed that during this month, buyer’s paid 2.6 percent below the estimated value of the home. Talk about a switch from spring and summer where sellers are getting asking price or more.
- The holidays are creeping up. Use this pre-holiday window to give fast closings and make your offer look appealing to the seller. How can someone think of presents when they have a home to sell?
- Those things called taxes. Most people won’t accept an offer just for this reason, but selling a home during the end of a fiscal year does have some added benefits. A seller you may be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset their taxable earnings.
- Black Friday. If you buy a new home in the fall, you will be spoiled with the deals of Black Friday and other holiday sales. Think brand spankin’ new refrigerator for a great price.
Well, folks, if that doesn’t convince you that fall is the best season to buy, then I am not sure what does. Contact me so we can start viewing homes! Get a head start by browsing our active listings here.