If you’re in the market for a new home, you should know that fall is an especially good season for buyers in the real estate market. That’s partly because of the simple law of supply and demand. According to MSN Money, need to move into a new home before the school year starts. If you’re trying to sell a house, that means there’s less demand, a fact that puts buyers in the driver’s seat and leaves more room for negotiation.
Another plus for buyers? Home prices tend to fall slightly after the busy summer real estate season. If a seller that listed his home last spring or summer still hasn’t sold it, he may consider reducing the price, or at least negotiating some concessions to keep a potential buyer on the “line”.
If you’re looking for a home in the fall, it’s likely you don’t have school aged children, so there are no hard and fast deadlines pressuring you. Sure, you may prefer to close on a house before the holiday season, but it’s not the same as having to. If you can get a better deal by waiting awhile, chances are you will.
One caveat to this rule concerns vacation homes. If you’ve rented a home for a period during the summer and love the area, you may be at a slight disadvantage. A seller knows when he’s got a home that’s worth more simply by virtue of its location near a prime vacation spot, and because of skiing, Colorado often has more than just summer vacationers — they’ve got the winter ski crowd too.
Still, buying a vacation home in the off-season has the advantage of letting you get to know what the area is like when it’s not crowded with tourists and vacationers, and if it’s a second home, you can always rent it out during prime seasons, so it might just be a win-win situation for both parties!
As with all things real estate, it’s much easier to navigate the Colorado real estate market with a trusted and experienced expert by your side. Call Housing Helpers real estate group and let us guide the way! 303-545-6000