If you are thinking about buying or selling a home, don’t wait for spring. Today, I’ll go over five reasons why you should jump into the fall real estate market.
The fall real estate market is upon us. Should you sell your home now or wait for spring? Here are five reasons why you should consider listing your home now:
1. Demand is very strong right now. There is a lot of pent-up demand out there. People have been wanting to sell their homes for a long time and they are finally able to do it. There are also a lot of buyers who have been sitting in rentals and waiting for their credit to be cleaned up and are now ready to go. Not only that, a lot of people want to get into their new homes before the holidays.
2. There is less competition. Although people want to get into their new homes for the holidays, you don’t have to worry about that summer crowd full of people who are just shopping around. Buyers won’t have to compete with 10, 15, or 20 other offers — instead, if you’re buying a home, you may only face off against one or two other people. Buyers in the fall are also more serious about purchasing a home.
3. The whole process can be quicker in the fall. In the summer, many people run into underwriting and closing issues at the end of the month. Since there are fewer people in the market, underwriters, processors, and title companies are able to move a bit quicker, ensuring a smoother process for you.
4. It is a good time to buy a home right now. CoreLogic projects that property values will go up 5.3% this coming year. If you’ve been thinking about selling your current home and moving up into a bigger one, now is a good time to do so and capitalize on that appreciation. By this time next year, interest rates will be about 0.5% higher. This combination adds a lot of money to your bottom line immediately and will compound over time.
5. What are your reasons for moving? Consider why you are selling your house. Is it time for you to move closer to family or closer to work? Do you need to move up or downsize? If now is the time to sell your home and buy another, don’t wait for spring. Your reason for moving is the most important reason to consider buying or selling this fall.
If you have any other questions about the fall market or about real estate in general, give me a call or send me an email. I would be happy to help you!