October ’15 National Market Update

Why the fall is a great time to buy a home

1. Less Competition
According to HousingWire, fall historically sees a decline in buyer demand that results in a willingness to negotiate among summer’s remaining sellers. However, in a seller’s market with conditions like limited inventory like we are experiencing in Portland, buyers shouldn’t expect big discounts in asking price. Buyers should be ready to make a decision and be prepared to make a solid offer in timely fashion.

2. You get more attention from your Realtor
According to HousingWire, homebuyers who are conducting their search during the fall could enjoy additional attention from their Realtor as the busy summer selling season slowly dwindles. Likewise, service providers such as mortgage lenders and title companies are experiencing a lighter workload and can often respond more quickly to your questions and inquiries.

3. Better deals and year-end tax breaks
Even buyers who missed the summer rush still have time to purchase and file for homestead by the end of the year. According to HousingWire, when tax time comes around, homeowners should remember to take advantage of the tax breaks such as:
• Mortgage Interest Deduction
• PMI and FHA Mortgage Insurance Premium Deduction
• Prepaid Interest Deduction
• Property Tax Deduction
• Energy-Efficiency Upgrade Deduction

If you are thinking about selling this fall, give me a call. I’m happy to help or answer any questions you may have.

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