It’s hard to believe but Fall started last Friday. With it comes a brand new season with brand new home buyers and home sellers. The Fall market also comes with high hopes that the lack of inventory and the intense competition might ease up a little bit.
For sellers, while there is this expectation that the market’s rapid pace will keep up, one of the dangers that sellers face is getting overconfident and over-inflating their pricing. The best advice to sellers coming into the fall market is to make sure that you are taking your Realtors advice… let us show you the market trends and make sure that you are priced to sell quickly.
If you have any items that are differed maintenance, take care of those so that the house really presents itself well the first time. The houses that look well and have been really well maintained go very quickly and they’ll go at top dollar.
Overall, we would expect the same amount of traffic at the open houses in fall as we would in the spring and summer months. The closer we get towards the winter months the more motivated people are going to be. If they’re out there looking, they’re probably serious because nobody really wants to tramp around in the cold looking at homes unless they’re totally motivated to move.
Pricing your home correctly and making sure it’s in the best possible condition are just as important for sellers in the fall market as every other market of the year.
For buyers, you may have an easier time bidding on homes in the fall. The key is looking back at the deals you’ve lost and understanding why you’re missing out. Now, if it’s a function of price every time, you may be overshooting the market and you may need to consider a different price range. But if it’s something more than that, talking with one of our Realtors and looking at the terms you can be offering… sometimes it’s a quick close, maybe offering more earnest money upfront, or limiting the contingencies. Those are all going to be more appealing to a seller and so if you find yourself in a competitive situation, know that while price is important, there are other factors that can help sweeten the deal for a seller.
You should be seeing new houses come on the market hopefully every day to take a look at but you’ll also have to be quick to go and look at them when they come across your email because they’re still going pretty fast once they get on the market.
Of course the spring and summer are the busiest real estate markets of the year, but plenty of sales happen in the fall months also. So if you’re thinking about buying or selling in the next three months, let’s talk about how you can take advantage of this amazing time of year.