The frenzy of the summer real estate market has cooled by the seemingly very same breeze sweeping leaves off the trees across much of the country. But now may be a better time than ever for you to start house hunting.
According to RealtyTrac and realtor.com®, October is the best time to snag a deal on a house. RealtyTrac analyzed more than 32 million sales of single-family homes and condos between 2000 and 2015, finding that those who purchased in October paid 2.6 percent below the average estimated full market value for their property. Oct. 8, specifically, seems to offer the best deals for buyers with an average 10.8 percent discount.
If you need more reason to start or continue your home search this fall, here are five additional reasons to shop for a home!
1. Less focus on landscaping. While the spring and summer bring green grass and plant life, fall may actually allow buyers to concentrate on the condition of a home’s exterior better. Viewing houses in the fall, you can spot exterior flaws and even landscaping problems, setting you up to deal with these issues before you buy the house.
2. The pressure is off. Less competition from other buyers who are pressed by deadlines, such as the start of the school year, means a stress-free pace for buyers.
3. Agents have more time. Ok, some agents have time- while we stay busy- we’re always ready to give our clients the attention they deserve, often times in the fall we may have fewer buyer clients so this could be a big advantage to you!
4. Better deals. Those who are selling in the fall likely have personal deadlines they’d like to meet, such as relocating for a job. Sometimes, sellers are more willing to lower their asking price than they would be during the summer months.
5. Fewer bidding wars. By taking advantage of the seasonal hiatus by other buyers, there’s less chance that your clients will be outbid by someone else.
If you’re ready to start your home search, call us, email us! We’re ready and now is a great time to buy!
Gregory Allman, Broker
Article adapted from Realtor Magazine