Fall is a great time of year. It’s starting to cool off. I love sleeping with the windows open and being nice and warm under a comforter. The leaves? Well, raking them is another subject. But another great thing about the fall?
It’s a great time to buy a home. And here are a few reasons why.
Home prices are typically lower. The asking prices that you see posted online usually remain the same, but the actual sale prices tend to be 2.5 – 3% lower than in the summer. And the sale price is what counts. But why are the sale prices lower?
Most people want to move in the summer, they can get the kids into the new school at the beginning of the year. But everyone else has the same idea, and spring or summer buyers face more competition. But most of those buyers have found their home already. This means there is less competition that you face when making an offer in the fall. And many of the sellers in the fall missed out on the summer market and are getting a little itchy to get their home sold.
During the summer the inventory of available homes is usually at the highest of the year. And even though many of these homes have already sold, there still is a good supply of available homes. And these sellers want to sell.
We still have homes available. The interest rates are still very low. You don’t need a 20% down payment in order to get a mortgage. And buying a home at this time of year can probably save you money, since home prices are probably at the lowest point you will see in the near future.
Give us a call to talk about purchasing a home today, call Bunny and Art Reiman, Realtors. We can be reached at 732-598-7700. Or visit our websites, at www.BunnyandArt.com www.55PlusInOcean.com www.55PlusinMonmouth.com