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The Buyer’s Market: Five Reasons You Should Buy a Home this Fall

Any good Realtor will tell you: as the seasons change, so does the housing market. The key to getting your best deal, either buying or selling, is to capitalize on the season. The spring market sells houses quickly as long sunny days, blooming flowers, and good weather presents homes in their best light. Conversely, sales slow in fall, signalling the start of the buyer’s market. If you’re looking to buy, here’s why autumn can be a wonderful time for a potential home buyer.

{1} Nature is working in the buyer’s favor.

As we enter fall and winter, characterized by rain and snow, nature is really working in your favor as a buyer. The best time to do a property inspection for a buyer will be during this season of harsh weather. All of the flaws that would otherwise would be hidden from a spring buyer until winter will be exposed, so you can be sure you’re getting your money’s worth. Rather than being blindsided months after you close, a fall inspection can show you all of the home’s flaws before you close.

If you have an open mind about a home’s potential then seeing homes in the fall after flowers die, trees lose their leaves, and landscaping doesn’t look at it’s best can give you an advantage. Homes show worse during the fall, and as long as you remember that the spring will bring a gorgeous, renewed landscape, you can avoid some of the competition you might face for the house in the spring market.

{2} School has started, so many families have left the market.

Most families looking to buy want to be in to their new house before the school-season starts, so that transitions are easier for their children. If you’re a buyer that doesn’t have this problem, looking in fall means that you are looking to buy in a market with much lower buyer competition. Families exiting the market as school starts, means an opportunity for fall buyers to purchase in a market with less competition driving prices up.

By removing much of this portion of the housing market from the equation, other unaffected segments get room to negotiate. If you’re a millennial, single, baby boomer, couple without children, or couple with very young children, now is your time to shine! Be aware at open houses you go to. If you see see fewer buyers, this could be a flag that it’s time to make your move.

{3} Tax deadlines will motivate sellers to close.

A home is many people’s biggest investment, and selling it comes with tax implications. Many home sellers will want to have the sale of their home on their taxes this tax year.

Some homeowners might be willing to make deals in order to close on their home prior to the end of December, so that they can get the tax benefits of the sale this tax season. Your Realtor can add looking for listings that offer incentives for buyers that close prior to this date to your search criteria.

{4} Holidays put pressure on sellers to close quickly.

The last thing anyone wants to be doing over the winter holidays is selling their home. Many home sellers will be motivated to negotiate to avoid having their home sale interrupting their holiday activities.

If a home is still sitting on the market in November, it’s time for you to step in and prepare to negotiate. Use closing before the winter holidays as a motivating factor in the negotiation so that you can get a final offer that is beneficial for you.

{5} Inventory leftover from spring may yield deals in the buyer’s favor.

The final important factor making fall a good time for many buyers is seller exhaustion. A lot of sellers list for the first time at the start of spring, and of these, a good portion list their home too high. What follows is a process that can be quite tiring: a series of price reductions throughout the summer, and growing worry that they won’t be able to get a buyer after Labor Day. By this time of year, sellers that have endured this process are growing more desperate, and fall buyers can get these listings at a price that may even be lower than the actual market value of the property.

If you are able to buy in fall and can see through the dreariness fall and winter can sometimes inflict on a property, it’s a good idea to capitalize on the season. Reach out to a qualified Realtor, and together you can use the season to get you your dream home for the best possible price.

And remember, if you decide to buy: The Ratchford Realty Group is the Smyrna team to work with!