The Spring and Summer real estate season is as hot as the weather, but you might be surprised by the benefits of purchasing in the fall! And we have the wonderful Jolie Barrios of CLAY STAPP + CO here to tell us about why that is!
What we love about Jolie is she focuses on first home-buying so if that is you, and the below reasons all seem appealing enough to make the jump into home ownership, shoot her an email at firstname.lastname@example.org or visit her website here!
The real estate market clears out as soon as the weather turns crisp. The majority of warm-weathered buyers have already found a home, meaning a fall buyer will have fewer competition and are less likely to get in a bidding war for the available houses on the market. But, there are still homes for sale! And in some cases, there’s just as much inventory as there was during the Spring and Summer. The Fall market is made up of new inventory and repositioned old inventory that did not sell in the prime season
Countless showings and no offers makes for one tired and anxious seller. After months of no action, lingering summertime sellers are more than ready to make a deal. This puts the buyer in a prime position to negotiate a price that more than fits their budget.
The amount that homeowners pay in property taxes and interest on a mortgage may be used as deductions on your annual federal tax return. Property tax and mortgage interest are both deductions you can take for your whole year’s worth of income, even if you closed on your home in December. Any payments that are made prior to the closing of the loan are tax-deductible. This can make a great difference in the amount you owe in taxes at the end of the year!
SELLERS ARE SERIOUS
Not all homes on the market in Fall are Summer leftovers. Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. Maybe they need to move because of a job. With that, sellers could be more open to negotiating and accepting a lower offer.
YEAR END SALES
Buying a home can mean other major purchases for many buyers. Large items such as kitchen appliances, lawn equipment and laundry equipment can quickly add up to a lot of money. The months from September to November are ideal times to purchase these big ticket items since most of them go on sale during this time. If you also need to re-carpet or re-paint the home, it can also be a good time to save on labor for these services.
The dreary Fall and Winter months tend to reveal flaws, making them a great time to see a home’s true colors. It’s better to see the home’s flaws before making the offer, instead of being surprised months after you close.
This post was sponsored by Jolie Barrios.