California residents may believe that they are out of luck if they can’t find a house by September in a given year. However, the fall months may actually provide an opportunity to purchase a home. During this time, there may be fewer people actually looking for properties, which may result in fewer offers for homes on the market. When a home receives multiple offers, the price might be driven up.
Therefore, shopping during the fall months may make it easier to make a purchase without getting into a price war. Buying in the fall may also mean that new homeowners don’t have to wait as long to write off their mortgage interest or private mortgage premiums. Property taxes and other costs related to getting the loan may also be deducted from a person’s taxable income.
Those who are looking to buy a brand new home may get better deals in the fall. Builders may be willing to discount the price of base model homes or agree to pay closing costs in full. Perhaps the biggest benefit to shopping for homes in the fall is that realtors may have more time to spend with clients. This may make it easier for the agent to respond to calls or otherwise meet client needs in a timely manner.
For some buyers, the process of buying residential real estate can be overwhelming. Between getting a mortgage and understanding the terms of a purchase contract, a buyer may not want to go through the process alone. For these and other reasons, buyers may want to have an attorney review the applicable documents prior to closing on a purchase.