Most people think that when schools starts, the real estate market stops. The truth is that real estate is a year round business, with people buying and selling all year round. While the "back to school" rush certainly creates a busier than usual market,  activity is steady in the fall and can be a great time to buy or sell a home here in Cleveland.

 

WHY FALL IS THE IDEAL TIME TO BUY

We wanted to share with you some thoughts as to why the fall real estate market is a great time to buy:

1. Less Competition For Homes

2. Better Deals

3. More Time To Look

4. New Inventory

Let's elaborate on the items above.

1. Spring and summer are extremely popular times to buy a home for families who have school aged children. Most want to move during the summer as it is easier to do than during the school year. The increased number of buyers here creates more competition for the nice homes. Therefore, some buyers end up paying a premium to get the home they want within their specific time frame.

2. After Labor Day, buyers can take a deep breath and relax. Now, they won't have to be bidding against someone who has a greater sense of urgency.

Deals can be had on homes that didn't sell during the summer. Some sellers whose homes got passed over are suddenly feeling pressure with winter looming. The thought of not selling in the fall brings the reality that they may not sell until spring of 2014. Many sellers are now more realistic on price and willing to be reasonable.

3. Some buyers prefer to shop for homes during the fall, when things are less busy for them. Summer months means vacation and fun, and people are busy. They don't want to spending every weekend looking for a home. The fall is a better time for many buyers to look for a home.

4. New homes often come on the market after Labor Day. Many sellers have the same attitude of some of the buyers in that they want to enjoy their summer and prefer to wait until fall to sell.

There are plenty of buyers who are downsizing, first time buyers, and move up buyers with very young children who are great candidates to buy in the fall. There are sellers who need to sell. Overall, fall can be good for local real estate.