Why is Fall a good time to Buy?
Recently we shared in a Blog "Why was Fall a good time to buy". We wanted to share again the benefits for the Buyer when purchasing in the offseason and provide you with a list of homes in Simi Valley that are priced under $500,000.
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.
Homes priced under $500,000