Cooler days are around the corner

For all of us Sun worshippers, it’s sad but true that Summer is closing in on us quickly. Soon we’ll be celebrating Labor Day, Summer’s finale. Beach days, barbecues, vacations, and late nights and warm days will taper off and we’ll be back into the swing of a new school year and my 2nd favorite season, Fall. For those that are not in the market to buy or sell a house, Fall means football, chicken wings, leaf peeping and a bit more routine, all a welcome change before we get into the crazy holiday season.

But what will the Fall market bring us this year, you ask? Let’s start with the good news: prices are holding steady as they have been throughout the 2023 year. We saw a very slight drop but all in all home prices are still at an all-time high. So, for anyone who was getting in their last New England summer and then planning on selling in the Fall, you’re in luck, it will be a great market! You’ll be getting top dollar and while rates are still high, the general public has settled into the idea that they will be staying here for a while.

As a buyer, It definitely has cooled off a little bit. It’s still competitive, but you’re not being asked to give up your firstborn anymore!

With the buyer pool a little smaller, most sellers are more open to accepting offers with contingencies, like home inspections, for instance. which is a very important part of buying a house and especially if it’s your first house. Homes are also  selling a little closer to list price now. There are still multiple offers in a lot of cases, especially when a home is well maintained and updated, but if you have any experience or friends and family that can help, buying a home that needs a little updating can be a great way to build equity.

My advice for this Fall, if you’ve been taking a break from looking, now might be a good chance to think about jumping back in. The Fall market should bring more inventory and more options. Banks and mortgage companies have also had some time to crunch numbers and come up with some creative ways to help buyers get the house they want without over extending themselves. Don’t be afraid to ask your mortgage broker or bank if there are any special programs, grants or federally funded  incentives that might help you.

As always, make sure you hire the right team. Work with an experienced real estate agent that has a great toolbox and can refer you to  other professionals on their team that will help streamline the process. It can be an overwhelming task if you don’t have the right professionals by your side to guide you.

Cheers to the start of the football season and happy house buying & selling to all. Start now and you can be in a new home by the holidays! Or if you’re selling, sitting on a pile of cash by Christmas!

Please reach out if you have any questions at all  [email protected], 508-826-7661