With the summer real estate season in the rear view, what are some of the ways to make the most of the fall real estate market?
There are a few things that are unique to fall when it comes to buying or selling your house. The following are some tips and insider information to help you take advantage of the Westchester market.
Taking Advantage of the Fall Season in Real Estate
Fall Real Estate Market’s Shorter Time Frame
While the always-hot spring market typically lasts from March to June, the fall real estate market lasts a much shorter time – September and October. Things start to pick up again after the summer lull right around when the kids go back to school.
Sellers: The shorter window of time to make the sale means selling quickly, so take into account all the ways to encourage potential buyers to make offers right away. Some tips include improving curb appeal using autumn’s natural beauty, making sure you have the home staged properly, and pricing the home correctly.
The entire process is squeezed into a shorter frame, so if you need to lower the home price in order to sell, it is best to make that decision fairly quickly.
Buyers: If your situation means buying a home in the fall is best, you may have to make a quick offer in order to strike while the inventory is high. Doing research on various neighborhoods and towns will give you the confidence to make a decision once you find the home that calls out to you.
Less Competition for Westchester Houses in the Fall
Sellers: Many people think of the spring real estate market as the best time to sell. That may be true depending on your particular home and neighborhood. The bidding wars and number of houses on the market are advantageous, but also consider the amount of competition in attracting buyers.
With so many homes on the market in the spring, sometimes they are priced more competitively. In the fall, there are less homes on the market, so in theory the need to cut the price mid-season far less.
Buyers: You may have the instinct to overbid or get in a bidding war due the shorter season and lower inventory. Try to remember that just as there are less houses, there are also less potential buyers out there to compete with.
Curb Appeal is Important for Selling Your House in the Fall
Sellers: Spring is a wonderful time to showcase your yard and your home’s appeal. The flowers and grass are fresh and new, the colors vibrant. Photos look great at that time of year. But fall is also a great time of year to take advantage of nature’s beauty. Staging the house with fall in mind and decorating for the season can add just the right touch. You can find great ideas on Pinterest and Houzz. Before your real estate team has photos taken, make sure to change out mulch and replace any old flowers and plants with season-appropriate plantings.
If you aren’t listing until later in the fall season, have exterior photos taken when the foliage is at its best. That can give you time to get the interior into showing shape, and ready for interior photos.
Don’t forget about the low interest rates! After a slight bump in the summer months, rates are back near historic lows – this fall is a really good time to buy a house.