September 15, 2015 by Jeff Lowen
Whether you’re buying a home, considering putting yours on the market or both – This time of year has traditionally been a good one for real estate. Even if an impending move isn’t in your future, here’s a few things to consider so you’re not overwhelmed by the changing season.
C-H-A-N-G-E. If I were the real estate market, I’d love me some change! One year your home is worth a b’zillion, the next- a pittance. Up down, thick or thin, the real estate market changes. That’s a good thing for everyone. As we move into the autumn season, school is back in session, the mornings are cooler and we all get that taste in our mouths that the holidays and the new year are right around the corner. However fast it comes, we’re all on this ride together. So let’s embrace it, and make the most of some Autumn opportunities.
- Speaking of change: Click Here for an infographic from N.A.R. explaining how our urban areas are growing faster than ever. If you don’t have your seat belt on by now, you better strap in… Change iz’a comin’!
T-R-E-N-D-S. “Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors®.” Riddle me this, Batman… If you’re selling a home and this fact has buyers knocking down your door willing to pay 100+% of your asking price, is it really “unhealthy price growth?” Incidentally, the national average says only about 20% buyers pay your asking price. Of course, our metro areas have the same amount of land our forefathers did, too. And, if I were thinking of building a new home, this might present a potential great deal!
- Prices are continuing to grow locally, although all the economic bean counters say that will ease a little. To me, that means stability and my property taxes won’t freak out for at least a while…
P-L-A-N. “I own a home, not planning on selling, so why should I care?” Even if you’re planning on staying in your home until your grandchildren’s grandchildren graduate from college, your home needs some love. Maybe now is the time to remodel that master bath or gourmet kitchen, and getting a home equity loan at current rates will save you about $100 bucks a month if the rate inches up a point.* Whatever you want or need to do with your home is better done now in the aftermath of the back-to-school stampede, than managing by crisis with your entire family here for the holidays, right?
If you are in the market, depending on your locale, you may be surprised to find out what opportunities lie in the Autumn Real Estate market to help accomplish your goals. Less competition, quality buyers and sellers, a sense of urgency and the best agents step it up this time of year.
At the very least, I’m going to go buy another leaf rake and a snow shovel… Seems I gave mine away. 😉
*$100k HELOC with 3.75% & 5% rates compared.
Do you think this article is awesome? ...Share it!: