When you think of Fall in Clark County, Washington you might think of the abundance of Harvest Festivals, Scary Haunted Houses to walk through and places like Pomeroy Farms to pick your favorite pumpkin and celebrate a cooler season. What you may not think of is purchasing a home. In fact, it’s well known that most home buyers wait till the Spring or Summer months to find the perfect place to call their own, but below are some reasons Fall might just be the best time to purchase that perfect home.
In Fall prices tend to slip a bit. The market is teetering between neutral and warm for sellers in different areas of Clark County, but you will likely see pricing coming down on some homes due to the nature of fewer buyers interested in purchasing during the busy school season. Although home values have increased by 3% from last year at this time, you will see that price cuts are common and that may leave you more room to negotiate with a seller who is ready to get out of their space.
Home Sellers Are Serious
Since the common understanding is that buyers are more interested in the Spring and Summer months, sellers often wait till that time to sell. If someone lists their home in the Fall, they likely have a good reason to move and therefore may be more willing to be flexible on price, depending on their situation.
You Won’t Be Rushed
Since there tends to be more competition in the Summer and Spring Seasons, you won’t feel pressure to make a quick decision because several other offers are already in on a property. With fewer buyers in the market, there is an opportunity for you to make a wise decision in purchasing your home without the added stress of 24 hours to respond.
Rates are incredibly low this Fall season. Lenders are interested in getting business in the door, just like any business and there are many banks looking to get you the best deal possible to get you into a home. This means less money out of your pocket, with less demand, flexibility tends to be more likely when working with financial institutions.
Your Agents Undivided Attention
Real Estate Brokers tend to have less business in the Fall, so you will be able to connect with them faster. Not that service wains by any means in other months, but logically thinking it is always a bit easier to serve fewer clients at a time. The value of a brokers time is essential in you getting the best deal for the home you want to purchase and allows for you to have an even better experience as you are working with someone who has your best interest in mind.
Structural Home Problems Become Apparent
Especially in the Northwest, where we have rain most of the year, you will be able to see if leaks or water damage abounds in homes that may look more put together in the Fall. Your inspector may be able to find piping issues easier in this season, along with foundation or other problems that warm weather may hide.
Tax Breaks Are Coming Up
Owning a home can provide you with some tax incentives as the interest paid is deductible during the tax season. It can be financially beneficial to own a home over renting, especially if your income has increased and you are looking to find ways to keep your money. Purchasing a home in the Fall gives you just enough time to claim your property when filing for taxes that same year.
Taxes Matter To Sellers
Some sellers may find it beneficial to sell prior to December 31st for their own tax purposes as well. This may mean you are able to get into your home sooner than later. It also may mean the seller is more motivated to get rid of their property and willing to negotiate. Be sure to ask your realtor if the seller of any home you are interested in is interested in closing on or before December 31st. Timing can be very telling.
It’s Not Freezing Yet
If you live in the Northwest you know that although we may get some fall rain, temperatures are bearable. Moving can be a bit of a hassle in the Winter if we get one of our ice storms the day before closing or you are purchasing a home in the country and are hoping to avoid unpacking in the cold. Fall purchases allow for you to get things accomplished while you are still able to avoid wearing a snow cap and gloves.
You Won’t Be Competing For Moving Help
In the Spring and Summer season, last minute booking for movers may be more difficult with the demand on them being so high. Movers are hungry for work in the Fall and Winter seasons, making you a very important customer. Also, if you happen to be using friends, they may be less worn out from helping other people or family members move, especially if they are on the one person you know who has a truck, they might be tired of being asked for help in busy months, but maybe in the Fall they will be a bit more open to assisting you with your move.
It’s Not Christmas Time
Let’s be honest, even if you don’t celebrate this Holiday, you might run into the problem of getting in to see homes when families are planning big parties (yes even when people are selling, they still do large events during this season). This can be frustrating if you are excited about a property and the owner has plans to decorate their Christmas tree with their children, so you are not able to come by. Fall shopping feels a bit like Spring and Summer regarding getting in to see homes without too many Holiday hiccups.
You’ll Know If The Home Has Good Light
With clouds being more common in the Fall you will be able to tell very quickly if the home has good lighting even during this darker season. In fact, we recommend buyers turn off lights to get an idea of how bright the home will be during gloomy months. It may be that a home is gorgeous in the summer because the natural light is a bit more apparent but removing the natural light may provide you an opportunity know you will like your home year-round.
Overall, Fall is a wonderful time to buy a home. If you are thinking of purchasing a spaced don’t let the Holidays stop, you. You may be missing out on a great deal! As brokers our job is to serve you with excellence and to let you know when the best time for you to purchase is for you!
If you need more information about the Clark County market this Fall season, reach out to one of our brokers for excellent knowledge and information. We are here to make the home purchase process as easy as possible for you. Most brokers know these little secrets about timing for a purchase and we are happy to share it with you.
The Prune Hill Realty Team