The kids are back at school, the cottager's are closing them for the season and folks are readying themselves for the change in colors. It's a great time when life just feels a bit slower and everyone is out and about.
July and August are certainly slower months, no surprise as many people prefer to get away but don't be fooled, there we many about taking advantage of a slower selling period to carefully review homes for sale. Now that we are fully into Autumn the market has picked up steam once again as buyers and sellers conduct business leading into the Christmas lull.
What many appreciate about the spring market is doubled in the autumn such as, greater selection! In the last few months many buyers are changing thier search criteria from the highly sought after "move-in ready" home to a more reasonable "handyman special" and if a good home needing extesive renovations hit's the market there is a line-up of renovators looking for a deal.
For sellers, the best advice I can offer is that, no matter what kind of home you are offering always remove the excess items so the buyers can see the full space of the home. Most buyers appreciate that everyone has "stuff" but they don't necesarily appreciate stepping over it to see your home. Buyers will equate these kinds of homes as being owned by people who are too busy or uninterested in selling their home for the most money and subsequently offer less.
For Buyers, be sure to pay attention to the layout and location of the home (2 aspects that are VERY hard to change). Pretty much everything else is changeable and with a shortage of listings it will get sold. Drive around the neighborhoods to see if you like what the neighborhood has to offer, line up your mortgage pre-approval and get a qualified agent to help you understand the values in the area so you spend only what you have to.
Be sure to pay attention to mortage rates as they have bumped up slightly however if we see rates take a more noticable move up expect to see your mortgage approval amounts drop and, a greater demand for homes as savvy buyers will rush in to capture those great rates even if it means paying a bit more for the home.