Fall offers beautifully crisp, comfortable weather, and is usually not plagued by the excessive summer heat and humidity that can zap anyone’s motivation, including a homebuyer’s.
Evergreen, CO (PRWEB) August 18, 2016
Although spring and summer have for years been considered the best times to buy a house, fall has been challenging that widely held belief. “Despite inventory tending to be lower in the fall, it is still becoming the new optimal season to buy a home,” said RE/MAX Alliance Realtor Margaret Stapleton.
For buyers considering a new home, Stapleton lists four reasons why fall can be the best time to buy:
No. 1: Less competition. “Many people still believe fall is the off-season for home buying, so the competition is significantly less,” said Stapleton. “Less competition equals fewer multiple-offer situations. This year may be different, though. Sellers have been holding off on listing, thinking this market will continue for months to come. In some areas of Denver and the foothills, this may be true, but overall we are seeing homes sit on market longer, price reductions, and lower list-to-sell ratios.”
No. 2: Motivated sellers. For sellers whose homes languished on the market during the spring and summer months, they are extra motivated to sell come fall. “This leaves more room for negotiating a lower price on a home that didn’t sell in the traditional ‘prime’ seasons of spring and summer, as the seller will usually be more realistic about the asking price,” said Stapleton.
No. 3: Weather. “Fall offers beautifully crisp, comfortable weather, and is usually not plagued by the excessive summer heat and humidity that can zap anyone’s motivation, including a homebuyer’s,” said Stapleton.
No 4: Interest rates. “Perhaps the biggest reason for buyers to lock in their choices is the very likely indication of rising interest rates. Lenders note that when the Adjustable Rate Mortgage rates are higher than the 30-year mortgages, that’s a sign that higher interest rates are inevitable and imminent,” said Stapleton. “You will see these interest rates rise soon. It has absolutely nothing to do with political issues, although these days, who knows, but it indicates that buyers will not be able to afford as much home because they are paying for higher interest rates. It also means that the seller will have to adjust their expectations for pricing because they will price themselves out of what the ‘old’ buyer could afford.”
About Margaret Stapleton, RE/MAX Alliance Evergreen
Margaret Stapleton “Connecting You to Lifestyles You Will Love” focuses on relocation, luxury and investment property representation along the Front Range of Colorado, especially in Evergreen, Conifer, and west Jefferson County, Clear Creek County and Park County. Her goal is to help buyers find their dream homes or second homes, investment options, and help sellers discover the best solutions in a constantly changing real estate market. For more information, please call (303) 670-6341, or visit http://www.coloradosrealestate.com. The RE/MAX Alliance office is located at 30480 Stagecoach Blvd., Evergreen, CO 80439.
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