Real Estate Matters
By Elisa Jo Eagan
People love autumn for many reasons. For buying homes? Not always. But this doesn’t mean autumn doesn’t have its own distinct benefits if you are in the market for a new home.
Crunch Time Has Arrived
For homeowners whose property is still on the market after summer, nervousness is likely setting in if their house hasn’t sold. The holidays are approaching, so they might be motivated to negotiate, sell, and settle before the holidays hit in order to have closing by the end of the year and on this year’s tax return.
Less Competition
Looking for a home in peak buying seasons can be challenging. Warm-weather home buyers are like shoppers who fight crowds to pay full price for the holiday’s must-have gift. By home shopping in autumn, you will be like the shopper who gets the same gift without as much competitive stress.
Better Values Abound
Research has shown that home prices often get a little more affordable in autumn due to the lower number of buyers competing in the market for a home during the fall. A Trulia study also determined that fall is advantageous for first-time home buyers because the availability of starter homes typically peaks in autumn after the end of the hectic summer season. Many properties that were rented will now be listed for sale, creating more buying opportunities as well.
More Personalized Attention
Due to the recent changes and market shift of increasing interest rates, the market has calmed in some cases. The good news is that for qualified first-time home buyers, there is grant money and a few wonderful loan programs available to help make home buying more affordable.
There is a special affordable mortgage loan available at 3 percent interest, for 30 years with 3 percent down payment and no mortgage insurance for up to $250,000 loan amount for qualified buyers that have not owned a home in three years. This could help save up to $630 per month on the total mortgage payment.
For more detailed information on this awesome loan program and for all of your real estate needs, contact me.
Happy fall pumpkin spice and everything nice. With hugs, love and warm regards.
For More Real Estate Questions, Information and Advice Contact Elisa Jo Eagan “The Real Estate Godmother” (609)703-0432 and Remember…”There’s No Place Like Owning Your Own Home!”
