The Real Estate Market is Going Back to School

If you’re like us, you made the mistake of blinking — in that instant, summer came and went. Labor Day? Done. Vacation season? Merely a memory. Now the kids have gone back to school, causing some parents to shed tears, and others to quietly sigh in relief.

Now fall beckons, with promises of pumpkin spice and sweater weather. What to do with all this peace and quiet? While most consider spring and summer as the premier real estate seasons, there is still plenty of life left in the market as autumn approaches. So whether the house seems a little too quiet — or you are secretly reveling in the silence — now may be the perfect time to learn your most important home buying lessons.

A is for Availability: Many parents have more time on their hands in fall, as they’re not balancing babysitters and summer sports tournaments. That means more time for online home searches and open house visits. Plus, now that everyone is back from vacation, there tends to be an uptick in market listing activity after Labor Day. As a fall buyer, you will likely face less competition for desired properties, and will draw even more attention from your dedicated real estate agent as the season begins to slow.

B is for Benefits: Tax benefits, to be exact. If you can close on a new home before year’s end, you will be eligible for a few attractive tax deductions come April. Deductible items include closing costs, property taxes, and mortgage interest. Even if you close on your new home in December, you can deduct property taxes and mortgage interest from your entire year’s earnings.

C is for Crunch Time: Most homes go on the market in spring or summer, and some will inevitably still be there come fall, much to the chagrin of their owners. That means that the seller likely has a little extra motivation to get the deal done. As the holidays approach, sellers are eager to close so they can move on to planning parties and events. They also may be looking to take a gain or loss for the current tax year. Just remember: when a seller is motivated to close, the buyer often can seize the upper hand when it comes to negotiations.

Call d’aprile properties today. We’ll help you get pre-approved, and make sure that you are ready to become a homeowner this fall!

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