If your sellers are on the fence about whether to put their home on the market now, be sure to point out these benefits of listing in the fall.
Mortgage rates are very attractive. As of this writing, the Mortgage News Daily survey shows an average interest rate of 3.62% for a conventional, 30-year fixed mortgage. That’s over a full percentage point lower than a year ago, and serious buyers will be motivated by the positive impact of these low rates on mortgage affordability.
Take advantage of the season. Autumn in New England brings to mind Rockwellesque images of cool, crisp days, bright skies, and dazzling foliage. Many homes will never look more appealing than they do at this time of year, so be certain to make your seller aware of how their property can be presented to take full advantage of the fall. Click here for several specific fall staging strategies.
Inventory is reduced. In most markets, the number of available residential listings has declined from the summer peak, and many of those remaining are high DOM (days-on-the-market) properties. A fresh new listing, properly presented and priced, will stand out to serious buyers.
Buyer demographics have changed. More than half of homebuyers don’t have children under 18 at home, and consequently, they aren’t concerned about being established in a new home for the start of the school year. For this segment of buyers, fall is a great time to find and buy a new home. In addition, some of these buyers will be especially motivated to buy as tax scenarios and other year-end financial elements are coming into focus.