Friday, September 22 is the first day of fall. While the Alabama heat will likely stick around for a while longer, many in Birmingham have already begun dreaming of brisk mornings, changing leaves, and pumpkin-spice-everything.
It may be surprising though, that fall is a great time to buy a home. Moving in the fall has a secret set of advantages that are worth serious consideration for anyone who didn’t move during the busy summer rush.
Competition cools down
The sounds of school bells signals the beginning of real estate’s off season. That’s the general understanding, as families settle in after vacations and big moves. When the bulk of those house hunters vanish, we see a transition to a buyer’s market. Fewer people vying for that house you like means you stand a better chance getting through.
Now’s a great time to pitch low offers and negotiate repairs and other perks.
Easier access to the pros
Fewer buyers on the market also means that real estate professionals won’t be stretched as thin as they were in the summer. The industry slow down can allow for more quality time with your agent, your loan officer, and every appraiser, inspector, and contractor that you may need to work with.
Sellers are ready to bargain
Since summer is typically the market prime time, any home still waiting for a buyer by fall may grow more desperate for attention. If sellers see that their listing has gone untouched for months, they may be willing to lower the price and negotiate other incentives. As the wave of summer buyers recedes, they will have to work with whatever home shoppers still remain. Sellers might take your offer more seriously if their phone hasn’t been ringing very much lately.
If someone is just now listing their home after summer, it’s likely that they’re in a hurry and need to sell that house sooner than later.
Fall could be the perfect time to save money on a new home. When the deal is closed and it’s time to furnish your dwelling, you can take advantage of seasonal discounts on everything from décor to appliances. Keep an eye out for specials as the holidays approach.
You may also be in for some tax deductions come April if you can close by December. Buying by the end of the fiscal year can mean deductions for property tax, loan interest, and more.
If you think that this fall is the right time to make your move, give us a call. We’re ready to help you through every step the financing process.