Why This Fall Maybe a Great Time To Buy Your First Home

Image taken by Diana

This October may really the best time to buy your new house and get a great deal in the process. Here is why:

• Prices are balancing out.

• Lower interest rates.

• Builders tend to offer more incentives to end of year buyers.

• You also have less competition.

• Home sellers that list in the fall, need to sell.

• You may have more negotiating power. With people needing to sell and less competition, this may put you in the driver’s seat.

• The pre-holiday season may put pressure on sellers to close fast, if they plan on moving and settling down in time for example, to host Thanksgiving dinner. This can also be to your advantage.

• You may also be able to write off some closing costs, mortgage interest and property tax payment to offset your taxable income.

As expected, the Federal Reserve cut rates on September 18 2024, by a hefty half percentage point. This was their first rate in 4 years. What does this mean for home buyers that have been waiting for rates to drop? It means they can now begin their home buying process. As always, we thank you for stopping by. Until next time…Diana