All buyers are in the hunt for the perfect property and the best possible deal. There is a tendency to try to time the market or wait until the season changes to start a new home search. The reality is that timing the market is a very difficult task. There are always pros and cons with waiting regardless of the season; fall being no different. Most people assume that spring and summer are the best time to buy based on the weather, but fall also has decided advantages. If you start your home search in the fall, you could be in your dream house by the new year. Here are four reasons why fall is a great time to buy.
Seller Motivation: There are many reasons why a seller would have their house on the market in the fall. Many listings are carried over from the summer and possibly as far back as the spring. What a seller doesn’t want is the listing dragged out to the holidays and ultimately the new year. This creates additional seller motivation. With motivation, a seller is more likely to entertain an offer they may not have a few months prior. They will be open to negotiate not only price, but terms of the contract as well. They will be more accommodating to showings and you can expect them to do whatever it takes to generate interest. This doesn’t always mean a deal but you know you will get the best of the property and the owner.
Low Inventory:There is the misguided thought from sellers that once summer is over they should wait until spring to relist their property. Many sellers do not want to have their home on the market with the weather changing and the days getting shorter. Because of this, there are fewer homes for sale in the fall. As a buyer this presents a wonderful opportunity. Reduced inventory gives you a chance to pick and choose the property that makes most sense for you. Instead of rushing to make an offer, you can take your time and see what is out there without pressure.
Seller Fatigue:As we mentioned, many of the property listings in the fall have been on the market for several months. Anyone who has ever sold a home knows this can begin to wear on you over time. Between constantly keeping the house clean, rearranging your schedule for showings and waiting for an offer, this is a frustrating time. After two months on the market, they may be willing to take the next best offer that comes in and move on. This doesn’t happen with every fall offer but your chances are greater now than at any other point during the year.
Seller Focus/Attention: Listing agents tend to be a little slower after the summer. They may not have the quantity of listings that they did in the spring and summer. This works in the buyer’s advantage. Instead of being spread out with several other listings, you have the agent’s undivided attention. With that they are more likely to respond to an offer or be willing to counter. Something that may have been off the table a few weeks ago is now under consideration.
If you are interested in buying a house you don’t have to wait until the start of the new year. There are plenty of advantages of buying in the fall that can help you land your dream home. Why wait when you can start your new home search today!