Fall is a great time to list your home, La Grange, IL!
You may hear that the fall is a slow time in the real estate market, but don’t be fooled. It is actually the second busiest time of the year for buying and selling homes. Sure, spring time brings a brisk pace, but after the kids have gone back to school and many people are getting back into a regular routine, they are ready to look at their living situation and make some changes. Some may need larger homes to accommodate a growing family, and some may be ready to downsize as their children grow up and fly the nest. Whatever the reason, fall is the season to buy and sell, so let me help you take advantage of the trends this season.
What makes the fall real estate market different
Some researchers are predicting that inventory will remain tight this fall and that prices will increase slightly. Since so many people think of spring as the time to buy, they may delay putting their homes on the market, however, I’ll explain why it is a great idea to get your home on the market below. And for buyers, don’t fret at the idea that prices may increase–I’ll let you in on other ways to get in the game without becoming “house poor.”
Sellers–why fall is a great time to list your home
#1 answer: Because fall looks good on your home! This is the time of year your home shines in that gorgeous autumn sunlight. Your lawn is still green; many of your flowers are still blooming. Your trees are colorful, and your windows are wide open, taking in the fresh air. This is curb appeal maximized!
Home decor galore: While the coffee shops promote pumpkin spice products, so can you! Pumpkin spice candles, bowls of colorful apples, and fresh baked cookies! You can create a warm, homey feeling that buyers float into the minute they enter your home. It’s a great time to bring in fall colors and well-placed, fall-themed accent pieces.
Pricing: While prices are expected to rise, you will need to move quickly if you are going to have to drop your price to stay in the game. You want top dollar for your house, but you also don’t want your house sitting on the market come Thanksgiving.
Test run: Fall is a great time to test the market, too. Ready to sell your home, but not sure if your home is ready to be sold? Test the market early in the fall. You can always take it off the market and re-list in the spring if it’s not working out the way you wanted it to. You just need to be sure to give it at least six months between the time you remove it from the market and the time you put it back on. Otherwise, it could look like your home has been on the market for many months instead of just a few days.
Buyers–why fall is a great time to get into a new home
#1 Answer: Because you may often find a lower price on a home you’ve had your eye on! Especially if a home has been on the market all summer, sellers may be more willing to drop their prices or make more concessions.
Avoid the frenzy: With less competition for tight inventory, you are less likely to find yourself in a bidding war or trying to compete with offers from other buyers. However, it is a good idea to do your research up front and know what you are comfortable with in a contract. Just because there aren’t as many buyers, houses don’t last long this time of year, so be ready to move fast when you have found the right home for you.
Better inspections: With the warmth of summer lingering during the day and the crisp fall evenings moving in, homes are more likely to show potential problems. Rainfall can expose leaks, and you can feel drafty doors and windows.
Tax breaks: Especially if you have been renting–buying at the end of the year gives you a few months worth of mortgage interest and property taxes to deduct for the year.
All in all, fall is a great time for real estate
It’s a great season that results in a win-win situation for sellers and buyers. Sellers can get what they want for their homes, and buyers can get the homes they want!