The Tulsa real estate market is open all year long, but seasonal fluctuations in the industry often dictate when the best time to buy or sell could be. The unique characteristics of fall make it a good time to buy a new home and many savvy home buyers may find motivated sellers and lower housing prices during this time. Here are a few reasons why this fall is the best time to buy:
Room to Negotiate
If a home you love hasn’t sold after the busy summer season, you may have more room to negotiate a lower asking price. Although some homeowners are determined to get a set price, others may simply want to complete the sale process and will be more willing to come down on price
Inspect Problem Areas
Fall is the ideal time to check for a home’s potential problem areas, such as gutter drainage and general upkeep of the yard. Viewing a home on a cool, rainy day also allows you to search for water damage and poor insulation. You’ll get a more accurate picture of the maintenance the property will require during colder months.
Home for the Holidays
Many buyers aim to be ‘home for the holidays’, which means they will be eager to buy or sell before the end of the year. This drive to complete a sale will lower sale prices and encourage buyers or sellers to be more lenient with their bottom line.
Year-End Tax Breaks
You may want to take advantage of year-end homebuyer tax breaks because owning a home can yield great dividends in tax returns. The IRS allows deductions such as mortgage interest, mortgage insurance premiums and property taxes to be completed before year-end. Any prepaid taxes and insurance premiums paid at closing can be deducted, as well.
Are you ready to start the homebuyer process? Call me for a buyer consultation and we can begin your search for your dream home.
Linda Smalley, Chinowth & Cohen Realtors, Phone:918.630.8431