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5 Reasons to Buy a Home This Fall!

why fall is the best time to buy a home

The seasons affect the housing market just as much as they affect the weather. During the spring the market blooms and conversely, fall signals the beginning of a slower market, which in turn could be good for buyers.

If you are looking to buy a home this fall, it can be a great time to buy:

Leftover spring inventory may result in deals

Sellers usually put their homes on the market in the spring. Often these homes are first listed at a high price in the beginning which leads to a series of price reductions in the following months.

Sellers have fewer chances to capture buyers after Labor Day and the audience is fewer. By October buyers are likely to find desperate sellers and prices that may be below market value.

Fewer buyers are competing

Families usually want to be in a home before the new school season and at this point have stopped shopping which equates to less competition and more opportunity for buyers

Taking out an entire segment of the housing market provides millennial, single, and baby boomer buyers some breathing room. You’ll likely notice fewer buyers at open houses, which could signal a great opportunity to make an offer.

Motivated sellers want to close by the end of the year

A home is an investment and one with tax consequences. A home seller may want to take advantage of a gain or loss during this tax year.

Buyers might find homeowners looking to make deals so they can close before December 31st and get that tax benefit. Ask why the seller is selling, and look for listings that offer incentives to close before the end of the year.

Homes for sale near the holidays signal a motivated seller

As the holidays approach, the last thing a homeowner wants is for their sale to be dragging on and interrupting their parties and events.

If a home has not sold by November, and it’s still sitting on the market, that homeowner is likely motivated to be done with the disruptions caused by their home being listed for sale.

Many homes don’t show as well once the landscaping fades

The best time to do a property inspection is in the rain and snow, because the home will be truly exposed for buyers. The same holds true for fall, when flowers die, trees start to shed their leaves, and beautiful landscapes are no longer so lovely.

Scratching the surface of the pretty spring home season and fall reveals home flaws, making it a great time to see each home’s true colors. It’s better to see the home’s flaws before making the offer, instead of being surprised months after you close.

STORY / BY ON 19 OCT 2015