As the vibrant colors of summer transition into the warm hues of autumn, the real estate market undergoes its own seasonal shift. While spring and summer are traditionally the peak seasons for home buying, savvy buyers often find that the fall months present a unique set of advantages. At Ashley Doty Real Estate, we believe that buying in the fall can be a strategic and rewarding decision. Read on as we delve into the reasons why autumn might just be the perfect time for you to make your move in the real estate market. 🔑

1. Less Competition, More Negotiation Power:

One of the primary benefits of buying a home in the fall is the reduced competition. Many potential buyers tend to pull back during this time as they get busy with back-to-school routines or hesitate to move during the colder months. The U.S. has recently endured 11 rate hikes, contributing to mortgage rates higher than we’ve seen in the last 22 years. In August, 82% of consumers reported putting home-buying plans on hold, according to the latest Fannie Mae Home Purchase Sentiment Index (HPSI). With fewer buyers in the market, you'll have more room for negotiation and may even secure your dream home at a stellar price.

2. Motivated Sellers:

Sellers listing their homes in the fall are often motivated to close deals quickly, especially if they've been on the market during the busier months. According to a recent study by Redfin, 42.9% of homes selling in 2023 are receiving concessions. This motivation can work in your favor, as sellers may be more apt to negotiate on price, repairs, closing costs, rate buy-downs, and flexibility with closing dates.

3. Ideal for Serious Buyers:

Fall buyers are typically more serious about making a purchase. With the distractions of summer vacations behind them, they're often focused and committed to finding the right property. As a busy agent, I am seeing more committed buyers come through our open houses than in recent years - this is due in part to rising interest rates and many folks pressing pause on their home-buying journey, creating a more conducive environment for serious negotiations.

4. Better Insights into Property Conditions:

Fall weather can reveal important insights into a property's condition. Roofs, gutters, HVAC, and drainage systems are put to the test during the rainy season, giving you a clearer picture of any potential issues that might need attention.

5. Take advantage of tax breaks:

There's an opportunity to reduce your tax liability when you purchase real estate. New homeowners can leverage deductions related to property tax and mortgage interest for your entire year's income, regardless of when you closed on your home, even if it was as late as December. Any payments made before the loan closing are eligible for tax deductions, and this can substantially lower the amount you owe to the government come year-end.

6. Easier Scheduling:

Real estate professionals, such as inspectors, appraisers, and lenders, often have more availability in the fall. This can lead to quicker turnarounds in the closing process and a smoother overall transaction. The same goes for movers. Because summer is peak moving season, people often experience more delays and service issues, such as moving companies reaching capacity and running out of trucks to pick up shipments, the probability of experiencing a delay is exponentially less in the fall season.

7. Cozy Showcase:

Autumn provides a unique opportunity to see how a property performs in colder weather. You can assess its heating, insulation, and overall comfort, ensuring that it meets your needs when the temperatures drop.

8. Ride the wave of end-of-year sales to outfit your new home:

It's only natural to anticipate making enhancements to your new house, and you'll likely find the need to purchase various items for home maintenance. For example, if appliances weren't included in your home purchase, you'll be on the hunt for those. Wouldn't it be advantageous to align your home acquisition with the favorable seasonal sales on these essential items? According to insights from Consumer Reports, specific months on the calendar present opportune times for purchasing various consumer goods. Notably, September emerges as an ideal month for acquiring carpet and paint. In October, you can find lawnmowers at discounted prices, while November brings cost-effective deals on appliances and cookware. And let’s not forget those Holiday sales for styling out your new abode with furniture & decor - let the fun begin!

While spring and summer may be the more popular seasons for home buying, there are key advantages that come with purchasing real estate in the fall. At Ashley Doty Real Estate, we're here to help you make the most of this opportune season. If you're considering a move, reach out to us, and let's explore the exciting possibilities that autumn has to offer in the real estate market. Your dream home may be just a crisp, fall breeze away!

Ready to conquer the Oregon real estate market like a pro?

Discover expert tips, and a step-by-step process in my comprehensive guides to buying and selling properties in the beautiful Pacific Northwest.

Guide to buying Oregon Real Estate | Guide to selling Oregon Real Estate