Postpone your purchase until Fall Season. Why?
The spring months used to be the best time to buy real estate, NOW the Fall may be the new ideal season to buy a home.
Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. But there are still homes for sale — and in some cases, there’s just as much inventory as there was during the spring and summer. Old inventory that did not sell in the Spring of Summer is now back on the market with some more potentially desperate Sellers (Read about what Sellers need on my Sellers page).
Because of this, you the buyer is in a enviable position to negotiate the fudge out of the deal. Maybe try a lowball offer and use my Rebate to help in closing costs.
Let the Seller know you can close before Thanksgiving, Christmas or the New Year.
Some sellers initially marketed their home at a higher selling price then the market would support…sooooo now, their confidence is waning. They are ready to make a DEAL!
Also, the Seller knows you might be their last hope since not alot of Buyers area walking through their house now. The Seller is thinking Why wait five or six months, let’s sell now.
New listings in the Fall tend to be serious Sellers, so they are ready to take a lowball offer.
First-time homebuyers will also get to deduct the property tax and mortgage interest if you closed on your home in December. This can make a serious difference in the amount you owe the government at the end of the year.
Also, service providers, such as mortgage lenders and title companies, are moving out of the summertime sales swamp and can often respond more quickly.
The same goes for movers.
You’ll also probably need to buy items to maintain your home, and if appliances weren’t part of the deal, you’ll need those too. Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need?
Buying carpet and paint, lawn mowers, appliances, cookware? All go on sale after the Summer.
Thomas Ray, REALTOR
Please visit my FaceBook page: