Frustrated With Trying to Find a Home? Here are 4 Reasons Home Buyers Should Stay in the Market this Fall
During this past spring and summer, home buyers were out in force dealing with other buyers competing for homes that sold quickly at escalating prices.
Now that we are in the fall season, some frustrated buyers will pause their search, and try again next spring … right during the peak of the market when competition is tough!
The fact is, buying a home during the fall and winter months can actually give you strategic advantages. Here are the reasons home buyers should stay in the market this fall.
Worried or Motivated Sellers
As buyers thin out, nervous home sellers are more apt to make price adjustments, and possibly accept buyer contingencies.
They thought their home would have sold by now. The number of showings have tapered off, and how will this affect the home they are wanting to buy?
Perhaps their listing price is out of sync with the market and time is adjusting their expectations.
The holidays are coming and they were sure their home would have sold by now … etc, etc,
Less Competition from Other Buyers
Fewer buyers mean less competition for available homes. Homes don’t typically go under contract as fast this time of year, and multiple offers are less frequent.
This takes some of the pressure off of home buyers, and helps soften up prices.
Better Customer Service
Home inspectors, title companies, appraisers, mortgage lenders, aren’t as busy in the fall and winter. With fewer transactions to work on, turnaround times within the home buying process improve, meaning fewer backlogs and closing delays. Moving companies, contractors, and other home service providers also see slower business which can translate into lower costs for services, and quicker response times.
Interest Rates Remain Low
It’s likely that mortgage interest rates will stay low through the last quarter of the year. There is a chance, however that the Federal Reserve will increase its benchmark lending rate in December, which could have a ripple effect on mortgage interest rates.
Your housing dollar doesn’t go as far when rates increase.
Your Best Home Buying Advantage
Your best home buying advantage and strategy is to use an Exclusive Buyer Agent. What is an Exclusive Buyer Agent? A different breed of agent who never works for the seller and only works for the buyer in every real estate transaction. In fact, they never take listings thereby removing any conflict of interests bringing you the buyer a higher level of representation. Learn More
Call us today at 636-532-4200 to discuss strategies to help you find your home in the fall and winter months ahead.
- St Louis Ranks in the Top 20 Cities Where You Get the Most for Your Money
- Safest Places to Live in St Louis
- Free Fall Edition Home Buyer Guide