Yes the rumors are true….Spring is prime real estate season but we love Fall real estate. In our opinion, its a great time for real estate! And the facts prove it. For the first time in history, in 2016, October surpassed June in home sales.
Here are our top 3 reasons to sell & buy in the Fall:
- People are serious: Usually, people are trying to beat the winter and get settled in before the snow melts. They want to be “home for the holidays” in their new home! You’re most likely not getting buyers that are “poking around” or just casually browsing. They want to move immediately so they’re not wasting anyone’s time.
- You’re the center of attention: There’s less competition, fewer houses on the market and less open houses. Your home will stand out more and get seen by more buyers.
- Your Home Is Cozier: Let’s face it there’s nothing quite like New England in the Fall. Mums outside on the porch. Cinnamon smelling treats inside. Fireplace lighted. When your buyers feel an emotional attachment to the home, they’re more likely to make an offer. Play up the season and decorate the outside of your home to have Autumn curb appeal and create a cozier atmosphere inside (maybe new, warmer paint colors…touches of yellow, orange and red in the decor of your home). Pay attention to the details that make your home stand out from just another house to someone’s new home.
- People are serious: Sellers who have homes on the market in the Fall usually need to sell. They either have a job relocation, had a home built over the summer and now its ready or (same as buyers) want to move before that winter weather rolls in. There are also less buyers out on the market so it tends to be a season known for good, fair negotiations.
- You can take advantage of tax breaks: The property tax and mortgage interest deductions that you can take from buying a new home can make a serious difference in the amount that you owe to the government even if you closed in December.
- Mortgage Rates Expected to Rise: Mortgage rates are expected to increase over the next 12 months according to Freddie Mac, The Mortgage Bankers Association, Fannie Mae, and the National Association of Realtors. This means that a year from now your monthly mortgage expense will increase if you don’t lock in the current rates.
As you can see, just because Labor Day has passed doesn’t mean your opportunity for Real Estate has. Looking to see what your home could be worth or want to browse for homes in your area? Check out our website and then contact us! We want to prove to you why you should love Fall real estate as much as we do!