We traditionally see a flurry of home-buying activity in October. School is in session, the weather in St. Louis is picture-perfect and prices are often at their lowest.
Home buyers find good values in the Fall market. A quick search through MLS shows a rich profusion of price reductions as summer ends and daylight shortens. These price declines convey a seller’s motivation to put their home under contract and close before winter sets in. Great values can be found in long-dated listings which are just now reduced to compelling prices.
Also at this time of year, new listings are likely to be competitively priced. Sellers, who don’t relish the prospect of open houses or showings throughout the holidays, feel urgency to attract a buyer in less time than their Spring counterparts. Moreover, sellers recognize they are in direct competition with existing inventory with newly reduced prices.
If you are a Seller with your home currently for sale or you are considering listing your home now, here are a few tips.
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Refresh your outdoor pots with Fall flowers and foliage. Trim back summer growth on shrubs and perennials if shaggy.
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Make sure you have photos of your swimming pool before it is closed and the furniture stored. Since your buyer will not be able to inspect the pool entirely during winter, ask your pool company to give you a letter stating that it was in good working condition at the time of closing.
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Do you do the same for your HVAC? Buyers cannot test the air conditioner when the temperature is below 62 degrees. Having a letter from your professional will provide a level of comfort for a prospective buyer.
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Let the intense Fall sunlight shine through clean windows. Pollen can cloud the beautiful clear light you want to take advantage of this time of year.
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Make sure your house is set at a comfortable temperature for showings. This can be challenging when temperatures fluctuate every day.
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Finally, this is not the time to “test the market” with an over-inflated price.
- Janet Horlacher
Principal
Janet McAfee Real Estate
