Is the FALL a good time to BUY real estate?

Dewayne:
“A lot of people are asking – is it a good time to buy real estate in the fall?”

Interviewer:
“Hi Dewayne. Hi Kirk. Thanks again for another episode in your series ’60 Lessons in 60 Years.’ Today we want to discuss your lesson on when is the best time to buy. We’re here in Florida, and based on your experience, when is the best time to buy here?”

Kirk:
“Well, there’s typically more inventory in the first two quarters of the year. The fall can be a great time to buy.”

Interviewer:
“Can you explain why?”

Dewayne:
“Well, a lot of potential buyers say, ‘We’re going to do something, but we’re going to wait until after the holidays.’ So you typically see a flood of buyers to the marketplace come January, February and on, so in the fall a lot of times you’re just competing with less buyers.”

Kirk:
“Less active buyers means less competition on offers. You typically will get a better deal.”

Interviewer:
“Well, besides less competition, are there any other reasons you would suggest buying in fall?”

Dewayne:
“I could think about the heat. Sweating. You know, if you’ve ever looked at property in the summer, temperatures can reach up to 10 degrees. The fall, at least they’re a little bit milder, even if they are still in the 80’s.”

Kirk:
“It’s more enjoyable, yeah.”

Dewayne:
“A lot more enjoyable.”

Kirk:
“Yeah, another reason is they [buyers] want to close by the end of the year because they want to apply for their homestead, so you have to close by December 31 to get that homestead filed from January unti, I guess, March 1st.”

Dewayne:
“Yeah, I mean that’s the better reason.”

Kirk:
“Yeah, that’s the big reason – ’cause they want that Homestead exemption.”

Interviewer:
“Ok, well thank you for sharing! What can we learn from you next time?”

Kirk:
“Our next lesson, we’re going to give you a lesson on the benefits of open houses.”

If you would like to see more from our “60 Lessons in 60 Years” web series, see below: