The Best Time of the Year to Buy a House FALLS RIGHT NOW!
The best time of year to buy a house is coming soon! According to a recent analysis by the house listings website Realtor.com, the greatest week to buy is the one from September 25 to October 1. This is due to a perfect storm of factors in the housing market that favor buyers, including lower prices, greater inventory, less competition, and more time to decide. Looking to buy a new house this fall? You’re in luck! Market will be most favorable for buyers in the fall. So if you're thinking about buying a home, now is the time to start preparing!
Knowing how much you can afford is important if you're looking to purchase a new home. With the help of a Mortgage Expert, you can get started with solid advice and valuable information. Explore this one to learn more:
According to Realtor.com, the final week of September might have close to 50% more active listings than the whole of 2022 as a whole. In comparison to those who purchased during the market's high this summer, when a median-priced property cost $450,000, the business anticipates that buyers during that week will save more than $20,000 on a home with a median price.
In addition, houses will typically stay on the market about a week longer than is customary and demand will typically be around 8.5% lower than an ordinary week. More price reductions than normal are also planned.
The market adjustments are attributed to seasonal variables by the experts at Realtor.com. In addition to the fact that children return to school in the fall, the temperature also becomes cooler, making showings and inspections more difficult. Demand declines as a result (also, the cold lessens curb appeal).
Rising mortgage rates make it more expensive to buy
Of course, you should only buy a home if you have the money to do so. Due to rising mortgage rates, many families are having difficulty making ends meet. If the Federal Reserve keeps raising rates, which many economists believe it will next week as the system continues to try to reduce inflation, the problem is only likely to become worse.
According to Daryl Fairweather, chief economist of real estate company Redfin, "The home market generally cools down this time of year, but this year, I predict fall and winter to be especially chilly as sales dry up more than usual."
Jacobs and Co. Real Estate 5 TIPS for you!
Industry experts say that the fall is typically the best time of year to buy a house. The combination of lower prices and less competition from other buyers makes it a great time to get a good deal on your dream home. If you're thinking about buying a house in the near future, now is the time to start preparing. Here are 5 tips to help you get ready:
Get your finances in order - Before you start looking for a home, it's important to get your finances in order. This means getting pre-approved for a mortgage and saving up for a down payment. If you're not sure where to start, our team of experts can help you out.
Start looking for a real estate agent - Once you're ready to start looking for a home, it's time to find a good real estate agent. They will be able to help you find the right home in the right neighborhood at the right price.
Get familiar with the market - It's important to do your research and get familiar with the real estate market before you start looking for a home. This way, you'll know what to expect in terms of prices and competition.
Start attending open houses - A great way to get started is by attending open houses in your desired neighborhoods. This will give you a chance to see what's available and get an idea of prices in the area.
Be prepared to make an offer - When you find the right home, you'll need to be prepared to make an offer. This means being ready with your financing and having a realistic idea of what you're willing to pay.
If you're thinking about buying a house in the near future, now is the time to start preparing. These 5 tips will help you get ready for the best time of year to buy a house. So what are you waiting for? Start your search today!
NOW THE TIME TO FALL INTO YOUR NEW HOME!
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JACOBS & CO. REAL ESTATE, LLC.
12923 Fitzwater Dr. Nokesville, VA 20155
(703) 594-3800 | jacobsandco.com