There’s a reason people love the fall. After months of oppressive summer heat and humidity, autumn is the welcome relief: cool, crisp air and those colorful oft-changing landscapes. Anything pumpkin-flavored is a bonus too.
Pro: Sellers are serious
As in, serious about selling their homes this time of year. Even though there typically is less inventory, the people that put their homes on the market this time of year are more serious about selling — otherwise they would wait until spring. Motivated sellers equals more flexibility during negotiations.
Pro: Inventory is low
So while sellers are likely to be more motivated to sell, when it comes to the amount of homes on the market, it’s slim pickin’s this time of year. However, the upside to low inventory is this: Since the supply of listings shrinks this time of year, it’s easier to narrow down the list of your top properties.
Con: Foul weather
The same way snow and sleet and freezing rain can wreak havoc on your flight to the Caribbean for New Year’s, it can also seriously impede your desire to get out of the car — let alone get out of your sweatpants to go house hunting in the first place. Who really wants to slosh around in the rain all day, looking at houses?
Con: Daylight waning
Buyers are faced with having to get out early from work to see properties or only look on weekends in order to fully ‘see’ a property. If it’s dark out, how can you get a thorough look at the exterior of the property? The neighborhood? Before making the decision to write an offer, you will have to see it in the daylight, so this can mean multiple trips to the same properties. In a competitive market, you could lose your window of opportunity.
Pro: There’s less competition
While bost of the buyers rushed to buy a home before school started, you’re in luck as a small minority of buyers looking to purchase a home in the fall. This means you have more time to look and the time necessary to properly negotiate a great deal in terms of price and terms that fit your needs. This also means you’re not up against as many multiple-offer situations.
Pro: Move-in dates are (likely) flexible
You probably won’t want to move on the eve of a holiday — or the day after. Which means that instead of having to negotiate a 30-day close, sellers are more likely to work with you on a doable time frame. It makes it easier to negotiate delayed closings or extended occupancy dates. Most people do not want to move during the winter and the holidays and are more flexible with dates and deadlines.
T.J. Whitlow | MarMac Real Estate | www.marmac.us
