Real Estate Matters
By Elisa Jo Eagan
People love autumn for many reasons. With pumpkin spice and everything nice, the changing of the seasons brings its own distinct benefits if you’re 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 and the holidays are approaching, they might be motivated to negotiate, sell and settle before the holiday rush. This allows them to close by the end of the year, impacting this year’s tax return.
Less competition
Looking for a home during peak buying season can be challenging. Warm-weather homebuyers are like shoppers fighting the crowds to pay full price for the holiday’s must-have gift. By shopping for a home in autumn, you’ll be like the shopper who gets the hot gift without as much competitive stress.
Better values abound
Research shows that home prices often become more affordable in autumn due to fewer buyers competing in the market. A Trulia study found that fall is advantageous for first-time homebuyers because the availability of starter homes typically peaks after the hectic summer season. Additionally, many properties that were rented during the summer may now be listed for sale, creating more options and opportunities for buyers.
More personalized attention
With recent reductions in interest rates, home buying has become more attainable. The good news for qualified first-time buyers is the availability of down payment assistance programs, which can help make purchasing a home more affordable. Buyers who haven’t owned a home in three years may save hundreds of dollars per month on their total mortgage payments through these programs.
Happy fall – pumpkin spice and everything nice!
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!”
