Get Ready to Finance with an Oregon Hard Money Loan
Spring and summer were long thought to be the optimal home sale seasons. However, recent real estate industry trends suggest a shift in this tradition.
Early fall has emerged as the new “sweet spot” for homebuyers. Specifically, the period between late September and early October offers an ideal window for purchasing real estate.
If you’re considering buying a home or investment property, here’s why the next few weeks could be the prime time to make your move.
5 Reasons Why Fall is the Homebuyer Sweet Spot
Several factors make fall a great time to buy real estate:
- Favorable Market Conditions: According to realtor.com, the week of September 24 to October 5 has consistently shown a balance of market conditions that favor homebuyers. During this time, the real estate market often experiences high inventory levels coupled with reduced demand. This combination leads to a softening of prices, which translates to better deals for buyers. As the frenzy of spring and summer buying dies down, the slower market also offers more flexibility and negotiating power if you’re looking to purchase.
- Motivated Sellers: Many sellers become increasingly motivated to close deals as fall sets in. Homes that were listed during the busy summer months but didn’t sell are often still on the market. Those sellers are eager to avoid carrying their property into the colder months when demand decreases further. This urgency can work in favor of buyers. You may be able to negotiate better prices or closing costs, more favorable terms, or repairs. The approaching holiday season also encourages sellers to make decisions quickly, leading to more opportunities.
- Less Competition: One of the biggest advantages of buying a home in the fall is reduced competition. By late September, many buyers who were active during the spring and summer months have either found a home or paused their search. Families with school-aged children typically aim to settle into their new homes before the start of the school year, so fewer buyers are house-hunting in the fall. This decrease in competition gives you more leverage as a buyer and reduces potential bidding wars, allowing you to make thoughtful, less pressured decisions.
- Interest Rates: While interest rates have been higher in recent years, there are signs they may begin to soften. Economic conditions are continuously shifting, and lower interest rates could make homebuying more affordable. Fall buyers could benefit from this potential improvement in rates, especially if they lock in a rate before further market changes. Even a slight dip in rates can significantly affect your purchasing power, allowing you to afford a more expensive home or lower monthly payments.
- Year-End Incentives: Many homebuilders and developers aim to meet end-of-year sales quotas and often offer incentives to buyers during the fall to close deals before the year’s end. These incentives can include price reductions, upgraded appliances, free home warranties, or even assistance with closing costs. As a buyer, you can capitalize on these incentives and boost your ROI.
Finance Your Real Estate Investment with an Oregon Private Money Loan
Fall offers excellent opportunities for homebuyers. It’s essential to make the most of the season by ensuring your financing is in order. This will give you a clear idea of your budget and show sellers you are a serious buyer. The private money lender team of Gregory M. Russell is an excellent resource for Oregon real estate investors. We offer flexible equity-based hard money loans up to $400,000 that can be customized to your needs. Our loans are based on your available collateral and repayment plan. The approval process is simple and streamlined, free from the time and paperwork required by traditional lenders. Call us at 1-888-477-0444 to discuss financing your real estate project. Or complete our loan request form, and we’ll quickly get back to you.