While many people think the unofficial start of the fall season means the real estate market shuts down for hibernation, Labor Day marks a great time for home buyers to start the leg work that goes into finding the right house at the right time.
1.Fall can be a strong buyer’s market.
Taking advantage of the change of market/season means there are fewer buyers on the hunt this time of year, which means less competition. This gives your Realtor more room to negotiate purchase prices for you, especially in September and October.
2. Home sellers drop prices in fall
Summer can be a hot selling season. But not everything sells. The serious sellers who are aware of the market change after Labor Day will consider price reductions at this time. For a buyer who is ready to make an offer, fall is a good time to make put something in writing.
3. Fall buyers don’t often have deadlines
A major influence on timeline for many home seekers is the school year. It is imperative that they close and are physically in a house by September. But for others there is no rush. There is time to put in offers, negotiate prices and terms, finalize closings with ease, and all around find a good deal. If you would rather wait for the best value for your hard-earned money, you can wait.
4. Buyers are back to their normal routine
It isn't just teachers whose work/life routine changes in the summer season. Most people relish the opportunity to kick back a little more during the summer months and this can throw off the schedules of buyers, sellers and the real estate professionals who serve them. With the “return to normalcy” that the fall season often provides, buyers can be expected to be more disciplined in their home search, and there is less likelihood of hearing that a preferred home inspector, lawyer or loan officer is taking a vacation during a critical point in the deal making process (Realtors never take vacations ;)
Find your AGENT
A truly good agent can help you shop around to get the best price and having a professional guiding you through a process they understand well can make your life a lot easier. The Flynn Team can streamline your first home purchase, providing step by step advice before the house hunt even begins.
Call us today! (516) 294-7292