Fall Real Estate Market Tips for Buyers and Sellers Fairfield County

Fall Real Estate Market tips for buyers and sellers

 The fall weather has been glorious this year! After an intensely busy summer, kids are back in school and every year at this time, sales start to slow down. There are many great deals out there right now with sellers determined to unload their homes before the bad weather sets in for the winter. Motivation is the key, and if you are ready to buy, you could score a great price.

 As a buyer, you should use this time to get all of your financing in order. I cannot stress enough, how important it is to have this done ahead of time. You may be very disappointed if your homework is not complete. Mortgage brokers have time to work with you right now and can give you a loan approval based on your financial criteria. All lenders are not equal, so shop around to find one with low interest rates and a good track record with successful closings.

 It looks as though most of the buyers are searching for that perfect home online, although we have met buyers out there winging it on their own at open houses. This is a good way to start, but talking with a professional experienced local Realtor is the way to go. They will educate and inform you, help negotiate the deal and guide you through the process when you are ready to purchase or sell. You will be more successful working with an agent who knows how to communicate, understands your target area, wish list and budget.

 Sellers have noticed the slowdown in activity and as a result, there are drastic price reductions everywhere, in all price points. I don’t think there will be much, if any further increase in property values this year as the market is adjusting itself.  Sellers should use this time to paint, de clutter, make improvements and repairs so their home will shine far and above the other listings. Don’t forget to clean both inside and outside. This has a huge impact on how your home looks to potential buyers. And if your neighbor’s property needs a little work, it may be the time to talk to them about how their property affects yours.

 Buyers are searching for the price reductions and are on the lookout for good values. Most buyers don’t have that extra money for improvements and are looking for homes already updated. Sellers should take note of this.  Buyers will pay market value for your home, but not more than that. If the home needs updating they will add that cost to the bottom line and want to make sure they are not over extended. There is so much information on the internet these days; they already have a pretty good idea of what your home is worth before they come through the door. Keep in mind the bank will consider recent sales in your neighborhood when completing an appraisal for anyone applying for a mortgage.

We are approaching the last few months of the year. Make your home stand out among the rest and it will sell. Follow our suggestions and both buyers and sellers will be successful and happy with their housing transaction this fall.

 Betty Bondi
Bondi Realty Group LLC

203-899-9990

 

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