Is Fall a Sellers Market?
Home buying and home selling are two of the most important financial transactions that most people make in their entire lives — which is why many of us stress over every single detail, looking for as many methods as possible of finding a good deal and getting the upper hand in negotiations.
Because home purchases depend greatly upon the conditions of the local housing market, many people pay close attention to the fluctuations in supply and demand, trying to find either a buyer-friendly market or a seller-friendly market depending on what would best serve their needs.
To a certain extent, such efforts are a bit exaggerated. With a smart buying/selling strategy, getting a good deal does not have to depend entirely on the market. In fact, there are many other factors that play into the deal you are going to get, anyway.
All the same, the pros and cons of buying or selling a home at each time of the year are worth taking into account, especially if you actually have the freedom to wait and find an ideal market. (Many people, at some point in their lives, find themselves needing to buy or sell a home quickly, which can force their hand in such a situation.)
So if you are weighing the pros and cons of buying or selling a home during autumn, the following factors are worth taking into account.
Fall weddings are on the rise. Over the course of this past decade, October and September have become the most popular months for weddings — overtaking the spring months of May and June for the first time since statistics have been kept on such matters. Because many people try to buy homes shortly before or after tying the knot, this means that there will be more buyers on the market. Advantage goes to the seller.
Once September rolls around, the school rush is over. During the spring and summer months, many buyers feel pressure to buy their new home quickly so that they can be settled in to start the new school year in their new school district. Once the school year has started, however, this is no longer a factor, as families have either found their homes or else reconsidered their priorities. This means that there is less pressure on remaining buyers — and that there are less buyers on the market in general. Advantage goes to the buyer.
Fall in Virginia means moderate weather. Here in the central Virginia area, fall offers some of the most beautiful days of the year, which means traveling from home to home is easier on buyers. It also makes staging a bit easier on sellers. Advantage for both buyer and seller.
Anyone selling a home in fall is definitely committed. With less buyers on the market and winter approaching, sellers who are not in a hurry to sell their homes sometimes take their properties off the market until spring rolls around. Those who keep making an active push to sell are likely highly motivated, and real estate agents know this. Advantage goes to the buyer.
Fall months represent one last chance for a tax break. Buyers also have an important motivation to complete a sale before the new year arrives, however. Certain costs associated with buying a home can be claimed as tax deductions that will apply to the entire fiscal year –whether the home was purchased in January or December. Some buyers who will be on the hook for large amounts of tax money during a given year are extra eager to finalize, therefore. Advantage goes to the seller.
Home sales in fall will be the center of attention. Realtors and real estate firms will be finished with the summer rush, which means anyone buying or selling a home during this time of year will likely receive a little more special attention than their professional partners could have offered in, say, May. Advantage for both buyer and seller.
Overall, fall is considered to offer more advantages to buyers than it does to sellers — however, as you can see, it is not completely one-sided. If you are looking to sell your home during autumn, you do have options. Visit Blue Marble Properties online today to learn more.