Real Estate Matters
People love autumn for many reasons. With pumpkin spice and everything nice, and the changing of the season into fall, autumn has 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. More than likely they want to close by the end of the year, in time for this year’s tax return.
Less competition
Looking for a home in peak buying seasons can be challenging. Warm-weather homebuyers 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. A National Association of Realtors study also determined that fall is advantageous for first-time homebuyers because the availability of starter homes typically peaks in autumn. After the end of the hectic summer season more properties that were rented will now be listed for sale, creating more buyer options and opportunities.
Interest rates and programs
Due to the recent reduction in interest rates, home buying has become more attainable. The good news is that there are currently, for qualified first-time homebuyers, down payment assistance programs available to help make home buying more affordable to qualified buyers that have not owned a home in three years – this could help save hundreds of dollars per month on the total mortgage payment.
Reach out to your Realtor for more detailed information on these awesome loan programs.
Happy autumn home hunting everyone!
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!”
