October is quickly becoming the most popular month for weddings, are these Autumn-loving newlyweds on to something?
Spring months have notoriously been the best time for buying real estate (as well as have a weddings), Fall is now becoming the “New” season to buy a home.
Let’s take a look at a few reasons this change is taking place:
There is less competition
Fall is a time many people consider to be the “Off-Season” in real estate so competition drops off. It provides buyers with new inventory and repositioned old inventory that didn’t sell during the summer months.
Qualified home buyers are in a great positon to negotiate aggressively. Many sellers are highly motivated to sell prior to the holidays. When possible, buyers can let sellers know they close before Thanksgiving or before the winter break is over.
Sellers are worn-down
Sellers who had their homes on the market during the prime selling season of Spring and Summer may have listed their homes above market price, resulting in an expired listing. After months of no action, these sellers are often ready to make a deal. Sellers who placed unrealistic prices on their homes earlier in the year may now be more willing to reduce the price come Fall. There are fewer buyers, fewer showings causing sellers to become frustrated and eager to sell. They are tired of maintaining a home in “Show Condition” and don’t want to wait another six months before selling their home.
Take advantage of those Tax breaks
Property tax and Mortgage interest are both deductions you can claim for the entire years’ worth of income, even if you close on your purchase in December. You can’t escape paying income tax, this can make a big difference in the amount you owe the government. This may amount to a significant savings, especially for “First time Homeowners”.
Fall is a safer
Did you know that July and August are the peak months for burglars? Waiting until Fall gives you the advantage to learn about your new home and neighborhood. You can get settled in your home and take precautions like installing a home security system.
Be the “Center of Attention”
Real estate agents are typically swamped during the Spring and Summer season. You might not get the attention from your agent that you deserve. Many other service providers that are related to the real estate industry such as Lenders and title companies also feel the heat during the summer. Falls allows agents and related professionals the time to dedicate to their clients making YOU their priority.
The probability of experiencing delays and service issues from moving companies goes way down after the summer peak season too.
Save some $ with end of year sales
According to consumer reports, September offers sales on carpet & paint while October may be the best time to purchase lawn equipment. November brings sales on appliances and cookware. Fall home purchases coordinates well with sale items you may need for your new home. Often appliances are not included in the sale of a home or there are improvements you’ll want to make.
Not only does Fall bring a change in the season, it may bring you a change of homes. Please let me know how I can help you this Fall.
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate