Real estate is 365 day business !!! Many home buyers have perceived the best time to purchase a home is during spring market.
As a Northern Virginia Realtor, personally I would buy my own home in Fall season.
Here are things that as a home buyer in Virginia you should know while considering purchasing a home in Fall real estate market:
1. Sellers true Motivated Sellers - Home sellers in winter may be testing the market with an attitude if they don't sell in winter they will wait out till spring market. However our fall home sellers are truly motivated home sellers who wants to sell their home NOW and not carry through the winter time. While the prices have cooled off from the crazy spring market to summer market fall home buyers may be able to negotiate bit more for their home.
2. Inventory: In Northern Virginia real estate market may not have a huge volume of homes to choose for a home buyer compared to spring market. However the inventory is still at its best compared to winter market mid summer market. And adding to the above having motivated sellers in the market does help financially especially to first time home buyers.
3. Year-End Tax Breaks - If you purchase your home before the year end, you can start working with an accountant for the tax benefits and saving you can earn from owning a house.
Down size of buying a home during fall market are:
1. School year - If you are planning to coincide to move kids with the school year or a particular school than you would be better off buying in spring or summer market to coordinate the school move.
2. Inventory is low- Even though you have motivated sellers on the market some buyers struggle to find a perfect home in the fall real estate market due to lack of inventory.
3. Selling your current home- If you have a home to sell you may want to accept the hard fact..BUY LOW SELL LOW in the fall real estate market. To orchestrate both the side of the transaction I recommend my clients to list their home first on the market. While their home is on the market do their research/homework where they want to move if they do get an offer on their current home. With coinciding settlement this can be easily achieved.
Northern Virginia real estate market has surprised many of us. Past year some parts of spring season was also slower than the winter months. So don't just rely on a particular season to purchase your home. Discuss with your home search needs and wants with a local Virginia Real Estate agent to help you and guide you through the purchasing of your home.
Photo courtesy of http://www.freedigitalphotos.net/
Comments(4)