It is pretty well known that Spring is the most popular time to buy a Northern Virginia home. There can be some pretty compelling reasons, however, to consider buying a home in the Fall.
1. Fewer buyers=Less competition. Econ 101...fewer buyers means the competition for each home is less and therefore you won't have to move as quickly and, possibly, offer as much as you would in the Spring.
2. Less Competition means more favorable negotiations with sellers. Less competition means that buyers have more leverage. This can translate into receiving more concessions from sellers.
3. Fewer listings, but the sellers will be serious and the homes will generally be well prepared. If there are a lot of listings on the market, smart sellers will take the extra steps to prepare and present their homes well--and that benefits the buyers!
4. By the time Spring rolls around, you will be worrying about your Garden NOT getting a mortgage. In other words, do the work now in a less stressful period and sit back and enjoy when everyone else is scrambling and competing for a home. It can also protect you in the event rates start to creep up.
5. All the parties that support home purchases will be more available and excited to work with you (lenders, movers, settlement companies). When things get busy in the real estate market, all parties involved get very busy. When things are slower, clients get more attention.
If you have been thinking of buying a new home, why not start looking this fall? You might not find what you want and may decide to wait until spring, but conversely, you might find a great home and negotiate great terms for it. It is worth considering!
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