We have hit the beautiful fall months in Summerville, SC. Our fall starts a little later down here with the cooler temps not hitting until November. (And by cooler I mean 60’s-70’s.) If you haven’t found your home yet, don’t despair. Here are three reasons it is GREAT to buy a house in the fall!
At this time of the year, you are primarily looking at homes that have been on the market for awhile due to being overpriced or lacking a broad appeal . Typically, the sellers are ready to complete the sale and close prior to the holidays, if at all possible. Not many want to be Christmas shopping while trying to pack up their house and move. There are also a number of tax benefits for those that close before the close of the year. Obviously, this is not always the case, but as a general rule, you will be working with more motivated sellers.
The shift has happened in real estate in Summerville, SC. It is now a seller’s market and there is less inventory out there than there are buyers. However, in the fall, there are less buyers out and about shopping. Those that wanted a house before the school year have already moved, those that were out in the Spring/summer have found their house and are closing, and most people are just busy with school and sports. Fewer buyers means less competition for you as you place an offer on a house and less chance of multiple offers. You still can’t low-ball in a seller’s market, but you have a better chance of your “good offer” being accepted and not being trumped by another offer. Most real estate studies show that the the “Best Days to Buy” fall in the fall months.
The workload for everyone in the real estate industry starts to slow down in the fall months. This includes real estate agents, mortgage brokers, home inspectors, closing attorneys etc. With a diminished workload, your house and your mortgage get more attention and you get a quicker response time. Everything from appraisals to inspections are easier to schedule once the fall months kick in.