Price reductions can be a great opportunity for Buyers in our fast paced market! Sometimes listings stay on the market longer than expected and undergo a price reduction.
These price reduction and be a win-win for both the sellers and buyers. The sellers are motivated and want their home sold and the buyers can purchase a home at a great value.
Check out these recent homes in Simi Valley & Moorpark that have reduced their price to get them sold!
If you are tired of renting and not sure if buying a home is in your budget, we wanted to share with you 3 homes that are Active in Simi Valley that would be comparable to the average rent in Simi Valley.
All three homes are under $450,000 and would be a great starter home or investment property.
Here is an example of the mortgage payment for one of these homes....
|5% Down Payment||$20,850|
|Loan Program||30 year fixed|
|Home Owners Insurance||$800|
|Total Monthly Payment with property taxes and Homeowners Insurance||$2,058|
(Rates are just an estimate, for exact monthly payments you would need to speak with a lender)
If you are thinking of buying, the Fall months can be a great time.
Here are 6 reasons that buying in the Fall can be a good time:
1. You are less likely to get in a bidding war.
Competition for homes drops in the Fall months. It is considered the "slower season" for most people, but for buyers, it can be an advantage. Brian Davis a real estate investor and director of Education at Spark Rental states "Fall home buyers should consider aggressive negotiation". Homes that did not sell in the height of Summer are having to drop their prices.
2. There's still time to get a tax break.
You can still get your tax break for the year closing in December. Property taxes and mortgage interest are both deductions you can take for your whole year's worth of income, even if you close in December.
3. More time with your Realtor
Since the summer months tend to be busy, Agents can be juggling multiple clients. Waiting until the Fall, you may be able to spend more quality time with your Agent looking for the "perfect home".
4. It's easier to negotiate with sellers.
The summer months, hot homes tend to have multiple offers making it hard for home buyers to get their offer accepted. Multiple offers can sometimes drive up the asking price. This is great for the seller but not the best news for the buyer. When Fall hits, sellers don't have as much foot traffic viewing their homes, making it easier for buyers to negotiate with the sellers.
5. You can take your time.
Buying a home is a big decision. You want to make sure that you are making the right decision. Taking your time is always recommended when purchasing home. Sometimes bidding wars and homes that will receive multiple offers make it hard for the buyer to have time to think it over.
6. Better Deal.
Who doesn't like a bargain? When the demand is lower for homes, it can get sellers very motivated by lowering their prices to get their home sold. Sometimes sellers are forced to move because of a job change, making it a buyers market for getting the best deal out there.
If you are thinking of buying and needing advice on how to get started, give us a call and we can talk you through it.