If you are serious about buying a property, this Fall might provide you with a great opportunity to purchase a home, rental property, or bare land at a price that will typically be lower than next year's offerings. Today's low interest rates are also an incentive for you to really focus your property search in the next couple months so that you get the best property for the money before interest rates go up.
Spring and summer are traditionally the busiest selling seasons both in the Bitterroot Valley and Missoula area. While inventory is higher during those months, you are also competing with a lot more purchasers. Homes priced $150,000-$250,000 are even harder to buy as that price point is affordable for many home buyers in the Bitterroot Valley and Missoula. The take away is that buying a property in Fall usually means you have less competition.
Another reason to buy in the Fall is that sellers are typically more motivated. They know a long winter here in Western Montana means that properties probably won't sell until Spring of 2015
So, what should be your strategy for the coming months? First of all make sure you have access to a responsive real estate agent and a property search website that notifies you have all the new properties coming on the market such as www.tracy.exitmt.com which is provided by Tracy Walczak of EXIT Realty Bitterroot Valley. On that website, you can view properties, request more information on a property you like, and set up a personalized home search that allows you to receive daily email notification of properties that match your wants and needs.
The next step to take is to get pre-approved for a mortgage so you can write a competitive offer that a seller will be more likely to accept. Also, knowing you are pre-approved for a mortgage provides you with peace of mind about financing and enables you to concentrate your energies towards finding the perfect property.
You can set-up a free mortgage consultation with Justin Blodgett of Mann Mortgage to determine the best type of mortgage for your needs at the best interest rate. Justin will guide you through the process of mortgage pre-approval, and you can get started by visiting his mortgage loan website https://justinblodgett.mannmortgage.com
If you find a property you really like this Fall, you may be able to negotiate a great deal as you encounter a more motivated seller and less buyer competition - now that scenario is really a win-win for you!