It’s a fact: Home sales heat up in the spring and summer and cool down in the fall, every year. By November, after the leaves have changed, people turn their focus from real estate to the holidays. House hunting slows down to a crawl, if anything. And that’s why now may very well be the best time to begin your hunt for a home.
10 reasons why house hunting in the fall is a wise move
Sellers are more motivated
More often than not, homes are listed when the real estate season is at its peak in the spring and summer. If a seller’s home is still on the market in the fall or winter, they will most likely be very eager to close on it. When owners are more motivated to close, owners may be more open to negotiating and making a deal.
Buyers have more time to make decisions carefully
House bidding wars require fast thinking and fast action. When there are fewer buyers house hunting, the competition for properties is lower. Lower competition allows buyers to take full advantage of the slower pace and do more comparison shopping. It gives them more time to make decisions carefully.
Moving dates are more flexible
When you’re not involved in home bidding wars with other buyers, the power is in your corner, lots of corners. Need an earlier or later closing date? Ask the seller to adjust their move-out date to better fit your schedule.
Lenders may be more willing to offer favorable rates
Business lulls and holiday bills happen for mortgage lenders, too, and they may be willing to offer slightly better rates in order to close a deal. Take the time to shop around. Negotiate on interest, points, or down payments. It’s possible you may negotiate numbers in your favor.
You’ll see more of what the neighborhood is really like
Many neighbors are gone on vacation during late spring and through the summer months. Neighborhoods can feel empty and a little lifeless. But in late August when school starts again, so does neighborhood activity. Fall is a great time to visit neighborhoods and their schools and get a feel for what the neighborhood is really like.
Inclement weather may be more revealing
Curb appeal is at its best on a gorgeous sunny day in the spring. But rain-soaked November days or a frigid January days during the off-season will allow you to see a truer picture of how a house is holding up under inclement weather.
More of the real story about a home is easy to see
House hunting when the trees have dropped their leaves and the flowers are spent can be very telling. Landscaping can camouflage peeling paint, a worn roof, cracks in the foundation and other issues with the home’s exterior. Exterior issues will be plain as day during the slow season.
Contractors, movers, house painters and others are more available
The off-season is a slow season for handyman service providers, too. When you buy a home in the off-season, you’re apt to get things fixed quicker and for a better price.
It’s the perfect time for more sales on new things for the new house
You may not have thought of this benefit of house hunting during the slow season. Sales are fantastic after the holidays just before spring! Vendors may have everything from a new fridge to a new rug drastically reduced.
Agents are more attentive
The slowest time of year for real estate agents is September through January. If you’re house hunting during the slowest time of year, they’ll be willing to go the extra mile to get your business and keep it. They’ll search for the right home and help you get the best deal with more fervor than usual.
House hunting in the fall is wise. Contact Charles D’Alessandro, your Brooklyn real estate agent with Fillmore Real Estate at (718) 253-9700 ext. 206 or email [email protected]. He’ll go the extra mile to keep your business and get the best deal on a home that’s just right for you.