The days are getting shorter but the reasons for buying a home just keep getting longer in the fall and winter months. If you are in the market or just thinking about it, now is the time to jump in and get in on the party! Clients tell me they are going to wait till the spring to purchase and I always tell them that this is the season to buy and to save money and in some cases close quicker than you ever imagined. And here are a few reasons why it is such a good market in the fall and winter months:
The Sellers have gone through the hot summer months and still no sale. They are motivated to get the place sold so prices start coming down in the fall to entice buyers. Lower seasonal activity means better home shopping for the buyer. Sellers are more willing and motivated to negotiate a deal, more open to make decisions they might not do in the flurry of activity of the spring and summer. All equaling up to smart buying in the off season.
Fall and winter months bring fewer buyers to the market. Lower demand plus a high inventory equals drops in market prices and sellers willing to be more flexible in the off season putting the buyer in the driver’s seat. With low competition for buyers you can count on better selection less rush to purchase as in the summer months when homes are selling quick so decisions have to be quick or you might lose out.
Sellers Motivated by Arrival of Bad Weather-
Many things go through the mind of a seller as winter arrives, why didn’t the house sell? Taxes are due what do I do now? Will I have another holiday season in this home? What can I do to get it sold? All these thoughts are running through the mind of motivated sellers and some get mad and shut down. Some will consider it a bad year and continue to hold to the sell. But other sellers will find themselves motivated to do what they can to accelerate the sale by lowering the price of the home or being a little more accommodating to a fussy buyer or even more flexible to get the home sold.
Finally the thing that makes it important to buy now is the interest rates. They are starting to rise in the booming economy which make the feds real fidgety and they don’t want a runaway economy so they begin to move interest rates up to slow the economy down which is usually the mortgage market that takes a hit first. Although there are many grreat loan programs suited to fit the needs of every buyer the interest rates still dictate the economic engine and how far things will take off!
If you are in the market to buy a new home and are looking for assistance or have a home you would like to find out what it might go for on the market, please don’t hesitate to contact me here. I would be more than happy to assist you in any needs you might have in the real estate field!