Episode 175: What Buyers Need To Know For The Fall Market 2024

As the leaves begin to change and the temperatures start to drop, the real estate market is heating up, especially for buyers. This week, we dive into why fall 2024 is an opportune time to buy a home and share essential tips to help you navigate this dynamic market.

 

After a period of high rates that kept many buyers on the sidelines, we are now seeing a gradual decline. By the time you listen to this episode, rates might even be hovering around the six percent mark, or potentially lower! This drop in interest rates is significant because for every one percent decrease, approximately five million additional buyers enter the market. This influx of buyers can create more competition, making now a strategic time to act before the market becomes even more crowded.

 

We also discuss the importance of looking at homes that have been on the market for a week or more. These sellers are often more motivated to negotiate, offering buyers an opportunity to secure better deals. Whether it's negotiating for seller-paid closing costs, price reductions, or other concessions, this period presents a unique advantage for buyers.

 

Exploring various loan and financing options is another critical topic covered in this episode. From mortgage brokers to traditional banks and credit unions, each lender offers different products that could be beneficial depending on your situation. It's essential to shop around and consult with your real estate professional to find the best loan product for your needs.

 

New construction homes are also highlighted as a fantastic opportunity for buyers this fall. Builders with completed spec homes are often under pressure to sell quickly, leading to potential incentives such as price reductions, seller-paid closing costs, and even special interest rate offers. These homes are typically designed with the latest trends in mind, offering great value without the lengthy wait times associated with building from scratch.

 

Finally, we emphasize the importance of acting now rather than waiting until spring. While spring might bring a slight increase in inventory, it will also likely see a surge in buyer competition, driving up prices and reducing the negotiating power of buyers. By purchasing in the fall, you can avoid the frenzy and secure a better deal.

 

Whether you're a first-time buyer or looking to make a move, this episode is packed with valuable insights to help you make informed decisions. Tune in to learn more about why now is the perfect time to buy and how you can take advantage of the current market conditions.

 

Don't miss out on this opportunity to get ahead in the real estate game. Listen to the full episode now and start planning your next move!