Month: September 2017

Fall Leaves and For Sale Signs

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Summer has come to an end and you probably are thinking you’ve lost the opportunity to sell, and need to wait till next summer. But that’s far from the truth! Although it’s not as hectic and crazy with the swarm of buyers on the market, the fall season brings out the most serious of lookers. They are the pool of buyers that waited out the summer frenzy to find their perfect home in the fall, and you don’t want to miss these buyers– they are ready to make a move, today!

Selling in a slower period does not equate to less money. That’s a misconception that homeowners have based on untrue data that floats around. With the right agent, and your home priced correctly, you can get a great deal selling your home during the fall season. And might actually prefer it. Here are the top 3 benefits to listing during the fall season.

1. Serious Buyers – Let’s be honest, if buyers are out during the busy season, looking for homes, they may not be serious and ready to buy. Although the summer brings in a large crowd, that crowd contains a lot of people that are excited by the prospect of looking, and fall into the “trend” of house hunting. These people end up not really being serious about the process and tend to hold off for another time. If people are investing time to look during the fall season, they are more likely to be interested in actually buying your home, instead of touring it.

2. Less Competition – Selling in the fall isn’t something many families can accomplish due to personal schedules. That’s why a significant amount of homes get listed during the summer season. Which means that summertime brings in a lot of competition. Selling in the fall means the potential house next door that has slightly more perks is no longer the competition. Less competition means that there is no devaluation to your home because of the house next door that could be under-priced in your neighborhood and draw all of the attention.

With a slower season, you get dedicated attention to your property, which increases the chance of a sale.

3. Easier to Find Your Dream Home – Not only do you get to benefit from a slower season during the selling process, but you can also benefit on the buying side. With less competition on your dream house, you can get a better deal. The summer brings a lot of missed opportunities for buyers on their dream homes because they go off the market instantly. This will give you the opportunity to get your home on the market and take your time to find the right one to resize into. A much calmer pace to the transaction will make it less stressful, and everyone all around happier. Don’t feel rushed into buying a home overnight during the summer, it could turn into a headache. If you want a far more peaceful transaction, that has calmer pace, then selling during the fall is perfect for you.

Three Questions to Ask Before you Buy

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Are you ready to own a home? The real estate market is constantly changing, so of course, DO YOUR RESEARCH! Don’t jump the gun on this one. Unbiased advice from family and peers may be kind, but you are the only one who knows what your needs are when it comes to buying a home.

Here are some great questions to ask yourself before making the plunge.

 

WHAT MADE YOU CONSIDER OWNING A HOME?

Forget finances for a minute and focus on what made you consider even buying a home in the first place. Here are a few “why” questions to ask yourself:

  • Is your family expanding?
  • Does your family feel safe in your current area?
  • Is there a STELLAR school system in the area you want to move to so your children can get the education they deserve?
  • How about that unbearable landlord and rising rent prices? How long can you afford to see rent go up?
  • Do you want a space to make your own?

Your motivation for buying is important. Your “why” can keep you focused, strategic, and on task during a process that can sometimes be daunting.

 
WHICH WAY IS THE REAL ESTATE MARKET GOING?

DON’T SLEEP ON YOUR DECISION TOO LONG! Home prices are on the rise. Not only are they on their way back up, but these increases are happening monthly.

According to Existing Homes Sales Report from the National Association of Realtors (NAR), the average price of homes in May 2017 went up 5.8% from last year. With the 1.3% drop in home sales in July 2017, this fall may be a perfect time to buy a home.

If you wait until next year to buy, you might be digging for change in the cushions and under car seats! Not only will it cost you more to buy, but you will also need to increase your down payment to account for the higher price of the home.

 

WHAT IS THE MORTGAGE FORECAST?

The initial process of purchasing your home may seem easy and quick, but there is a lot to the process! The ‘long term cost’ of buying a home can and will haunt you if you buy at the wrong time. Mortgage Bankers Association (MBA), and NAR have projected that mortgage interest rates will DEFINITELY increase over the next twelve months. The smallest increase in mortgage rates can have a huge impact on a home owner.

Talk to a mortgage specialist before any big decisions. Your real estate agent should have some great suggestions on people who are wonderful!

 

FINAL THOUGHTS

If you and your family feel it is the right time to buy a home then go for it! Finding a Realtor ™ to help out is important as she/he will have up to date information and great advice.

You can’t go wrong with owning your dream home, no matter what it looks like!