Most people agree that spring and summer are the ideal times to buy or sell a home.
Not only is it aesthetically, great time of year to sell blue skies, flowers in bloom, no snow to shovel a walkway! Buyers also want to close by fall. The school year begins. Parents tend to move in the spring so allowing the kids to adjust to the new area before school starts. Next to spring, fall is the busiest season for home buying and selling. Fall offers certain benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving and a wide selection of homes for sale.
Just because Spring/Summer are prime times to list your home does not mean it is the only time.
After families are settled into the school year, know their upcoming schedule of events and holidays, as well as anticipate their own move knowing it could be in winter. There may be more listings in the spring, the demand for housing is still very high in the fall. Because of the competition and the Holidays fast approaching, buyers are often tempted to make a higher bid than the asking price. Not only do these fall factors affect the process of searching, and negotiations the weather is essentially perfect to view homes. It’s not hot and humid or bitter cold and freezing. Yes, the School Year effects the Real Estate market but typically it seems to be in the best interest of all parties.
One does not enjoy moving on the eve of a Holiday
Instead of having to negotiate a 30-day close, sellers are more likely to work a time which benefits everyone and their holiday plans. Winter makes everything a little more difficult to complete. Whether it be driving to the grocery, pumping gas, or even getting your mail these months can be quite brutal. I would suspect many people do not want to prepare a home for a showing, open house, keep up the outside look, or delay their preparation for the upcoming holidays to allow the house to be marketed. Those who do have their homes on the market, well they’re expecting all of this. The quicker the sale the better! This is now a buyers market with a flip in supply and demand to our Spring market.
September and October are the time of the year that people start to think about year-end tax benefits.
Owning a home can bring significant benefit in terms of tax return dividends. One cannot avoid paying income tax there is an option to make a dent in what is owed! Owning a home can bring significant benefits of tax return dividends. Mortgage interest and property taxes are deductible from your gross income. If one prepaid some interest before the due date of the first payment, and if closed the loan before year’s end, that interest can be deducted.