Insider: Autumn Appeal – Cool Months Offer Home Buying AdvantagesLIV Sotheby's
As the fall weather begins to cool, typically so does Colorado’s real estate market. And while we are conditioned to expect the proverbial end-of-season slow down after the summer months, the current change of season is presenting pleasant opportunities for homebuyers.
If you are hunting for a new home, there are significant advantages for the homebuyer this season.
- You can likely avoid the multiple-bid minefield. Earlier this year, the low-inventory market generated challenging bidding wars for buyers. This fall, buyers face less competition while Colorado’s increased supply of homes provides a more pleasant shopping experience.
- More potential bargaining power. With less buyer competition and more available inventory, negotiating with sellers wanting to sell their homes before year-end could result in achieving a more appealing value. Most of this year’s price appreciation took place from the end of January through June.
- Enjoy a better year-end tax break. Consider the allowable deductions for mortgage interest, closing costs and property tax deductions when buying in autumn months.
- Still low interest rates. Interest rates are still hovering around 4% (until a little later this year). The time to act is now.
- Lenders are easing up on mortgage lending requirements. According to Fannie Mae’s 3rd quarter Mortgage Lender Survey. Overall, these lenders anticipate that the easing of credit standards, together with low mortgage rates and a strengthening of the labor market, will benefit and support the housing market.
Whether you seek to be in a new home for the holidays, or buy when rates are still low, the current real estate climate is easy to predict, and combined with the considerations above, makes for a perfect Fall Buying Storm.
LIV Sotheby’s International Realty compiles monthly, quarterly and year-end reports to help consumers make better real estate decisions, whether purchasing or selling a home. To access current market reports visit www.coloradomarketreports.com. To service all of your real estate needs visit www.livsothebysrealty.com.