Every season has its own benefits. A commonly accepted wisdom is that Spring is the best time to buy and sell a home. The flaw in this thinking is that that’s what a lot of people think. When there’s a flood of homebuyers there is more competition for the homes that are available. That’s why some savvy homebuyers know that fall is as great a season to buy – if not greater. Here are a few reasons why.
- There are fewer Buyers. There’s a reason Spring is referred to as the “Spring Selling Season” not the “Spring Buying Season”. It’s a great time to get top dollar for your home when there are so many eager buyers driving up the price. The National Association of Realtors (NAR studies shows a year over year trend of homes spiking from the Spring through the Summer months then tapering off as soon as back to school time arrives.
- Prices tend to drop. The operative word there is “tend.” In the current real estate market here in Santa Barbar we’re experiencing that may not be so for the moment. Even though, the same NAR report that showed sales dipping in the fall also showed home prices falling during the fall as well.
- Flexibility of Moving Dates. Everything becomes a negotiation tactic in a seller’s market. If the market follows historic norms drops off in the fall then there may be more flexibility with the seller in arranging move in dates and the close of escrow.
Spring may have an undeserved reputation as being the best time to buy a home. The truth is that every season has its own benefits.
You can see that the spring has an undeserved reputation as being the best time to buy a home. The truth is that every season has its own benefits, and it’s incredibly difficult to time the purchase of something as major as a home purchase or a move.
The good news is, if you’re able to wait a few months, and don’t need to be settled in time for fall activities, waiting until the fall might offer you some big benefits.
FOUR STUNNING WATERFALLS IN SANTA BARBARA, CALIFORNIA
