3 Reasons to Buy a Home This Fall!
Hey everyone! Hope you are having a great Monday! My name is Garret Anthony and I am a REALTOR with Berkshire Hathaway. I wanted to talk about some reasons why buying in orange county this fall could offer some great benefits. The Orange County market like much of the nation has been going through a HUGE inventory deficit, snagging homes at market or below market value in Orange County has become almost impossible do to the growing amount of buyers looking for homes.
The Year may being coming to an end but the benefits of buying a home are starting to show! Real Estate markets ebb and flow just like the seasonal changes, if you are looking to buy a home RIGHT NOW could be the Best time. I Have listed three of the top reasons why October, November and December could offer some of the greatest deals for buyers.
1.) Left over inventory
Homes traditionally come onto the market in a huge surplus during spring time. Usually in this market they are over priced to do the dominance given to the seller from a lack of inventory. This can make the properties go through a series a price reductions through the spring and summer months. Sellers have fewer chances to find a qualified buyer going into and after Labor Day, by October sellers can be desperate to close by the end of the year do to tax reasons I will touch on in reason number 3. All in all this leftover inventory can provide buyers with a chance to buy a home in orange county under its true market value.
2.) Fewer buyers are competing
A huge segment of home buyers leaves the market once the school year begins. These buyers no longer want to uproot their children from school and make the big move. This can open up huge opportunities for millennial, single, and baby boomer buyers. You'll likely notice a slow down at open houses, this can signal a great time to make an offer.
3.) Homes for sale want to close by the end of the year
This reason follows up with number one, sellers want to close before the end of the year! Why? A home is where an owner lives and makes memories, it also is an investment - and one with tax consequences. A home seller may want to take advantage of a gain or loss during the tax year. Buyers may find homeowners looking to make a deal before December 31st to recieve that tax benefit.
I hope you guys got some value from this article! My goal is to become the market expert for Orange County. Hope you all have a great monday!