If you’ve been shopping for a home this spring, you experienced an extremely competitive housing market. You may have lost bidding wars against other buyers or just did not find the home you imagined because of a lack of inventory.
If you are still looking for a home I have good news for you …
This fall will be the best time to buy!
Don’t delay until spring when everyone else gets back in the game. The market will heat up again, and you’ll see the same craziness as earlier this year.
Call me and let’s go house hunting now!
Here are 5 reasons why fall is a great time to buy …
Most people buy in spring, so they can move into their new home over the summer before school starts. That’s why you will see less competition this fall. You will face fewer bidding wars and have more time to make an offer on the home you like.
The number of listings is slowly increasing. More homeowners have decided to sell their property to take advantage of record high home values. The good news for buyers is that sellers won’t get top dollar if their house is not in excellent condition.
Homes will stay on the market longer. Most listings won’t get multiple offers within a few days. The patience of homeowners will get tested. Once their property has been listed for a couple of weeks they will become more flexible, reduce the asking price and could accept lower offers.
The average selling price reaches its peak in June or July. It usually drops during the autumn months. This is due to the fact that there’s less competition and fewer offers for listings. Sellers will drop their asking price if their home does not get an offer after a few weeks on the MLS.
With fewer loan applications lenders will start competing for your business with lower fees. Expect interest rates to rise later this year and certainly next year. The sooner you lock in your rate the less you’ll have to pay for your mortgage.
It’s Still a Great Time to Sell …
If you’ve been thinking about selling this article may sound like you missed the boat.
That is certainly not the case.
Home values are at record highs. You won’t lose if you list now. It will be less stressful than listing in spring and buyers are more serious in fall. There’s less buyer’s remorse in fall, so you have a much better chance of closing on schedule.
Call or text me at (614) 975-9650! I can help you whether you plan to buy or sell!