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Why Fall Might Be The Best Time To Buy A Home

A lot of people think the best time to buy a house is during the Spring market.

And, it is…

…in the sense that more houses are listed for sale in the Spring. But, there’s also a heck of a lot more buyers trying to buy those listings.

The thing is, some of the houses listed back in the Spring don’t end up selling. (Usually just because they were overpriced.)

Now, it isn’t like new listings don’t happen in the Fall. There are always new listings coming on the market. But it’s not like, just because it’s Fall and not Spring, prices are necessarily going to fall. In other words, new listings aren’t likely to list for a lot lower than you would have seen in the Spring.

However, the homeowners who did list back in the Spring, are much more likely to be anxious (perhaps even desperate) to sell their home. They’ve created their own problem…they missed the boat by pricing too high.

Which is great news for you, if you’re looking to buy a home:

  • Less competition. (Many buyers stop looking at this time of year…for no good reason.)
  • Motivated sellers. (They’re sick of being on the market, and wondering why nobody bought their house.)

But it isn’t always easy to find those listings. They don’t wave a white flag, or lower their price to some ridiculous amount everyone would notice. If only it were that easy…

Just because someone listed their home back in the Spring doesn’t mean they’ll be all that negotiable.

There are certain things a great real estate agent will know to look for.

And I love rolling up my sleeves and finding the ones we can most likely negotiate the best deals on.

So, got anything you want me to roll up my sleeves and look for? Real estate deals won’t just fall in your lap, but I can certainly help you find one this Fall.

Bonus
Want another reason to buy a home in the Fall?

You can take advantage of year-end sales to outfit your home!

Hardly anybody buys a home who doesn’t want (or need) to make improvements, however small. So why not coordinate your purchase with sales on items you’ll need? According to Consumer Reports, September is an ideal time for buying carpet and paint. In October lawn mowers go on sale, and the same goes for appliances and cookware in November.

I’ve created a free guide to help my clients properly prepare for purchasing a home. If you’re thinking about buying a home in the near future (or ever…), grab a copy! The Ultimate Home Buyer’s Guide

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Can I use an agent to purchase a new construction home?

Yes!  In fact, some builders pay agents to find prospective buyers.  You can also use a buyer’s agent to help negotiate the price and upgrades on a new home.  An agent can be particularly valuable for directing you to newly built developments that match your needs, as well as helping you select reputable builders who are financially sound and respond promptly to buyer’s concerns.

Builders normally require an agent to be present on your first visit to the site.  This is a sensible procedure that allows the agent to be paid a commission should you decide to buy within that community.  Otherwise, if you find a development on your own, make the first visit without the agent, and later make a purchase, the builder may refuse to pay the commission – even if, at some point, the agent became involved in the process.

I’ve created a free guide to help my clients properly prepare for purchasing a home. If you’re thinking about buying a home in the near future (or ever…), grab a copy! The Ultimate Home Buyer’s Guide

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Nearly 1.3 Million New Homes Completed In May—The Most In Over A Decade

The housing inventory crisis—which, according to Realtor.com’s recent Housing Shortage Report, is the worst inventory shortage in the United States in over two decades—hasn’t been an easy time for people on the market for a new home. The low inventory and the intense competition for available homes has driven up prices in markets across the country, making it difficult for potential buyers to find and buy property.

But it looks like building is (finally) starting to pick up to keep up with buyer demand. According to a recent report on new construction from the US Census Bureau and the US Department of Housing and Urban Development, builders completed new homes at a seasonally adjusted annual rate of a whopping 1,291,000 in May 2018—the most homes completed in over a decade.

The Takeaway: If you’ve been thinking about buying a home, this is good news! As new inventory becomes available (and as builders continue to construct new homes to keep up with demand), the fierce competition for property that’s become the norm in today’s real estate market will cool off, making it much easier to find a home (and, most importantly, to get that home at a reasonable price).