Lake Minnetonka home buying markets are always changing — just like the seasons of the year. Many people associate spring with a renewed, popular time to home shop. Fall is usually associated with a slower-paced real estate market for a variety of reasons. However, fall could very well be a great time for Lake Minnetonka home buying. Let’s take a look at a few reasons why.
Fall Brings Lake Minnetonka Home Buying Advantages
Inventory from this past spring could mean great buys.
Many homes are listed on the market in the spring at prices that may be unrealistically high. As a result, price reductions naturally follow during the rest of the year. If a seller hasn’t successfully captured the attention of — or received an offer from — the Lake Minnetonka home buying market by early September, a substantial price cut may occur.
There are less buyers competing for homes.
By early September, of course, due to the start of the new school year many home shoppers have tabled their search. That equates to less competition, more motivated sellers and greater potential opportunities for those in the Lake Minnetonka home buying arena. This “thinning of the herd” gives prospective buyers a little more time to shop around for the best deal on the home they’re looking for.
Some home sellers may want to sell before the end of the year.
Often it’s important for sellers to close by the end of the calendar year to take advantage of any tax gain or loss. As such, Lake Minnetonka home buying candidates may encounter more motivated sellers willing to negotiate if they can close the sale prior to December 31.
Holiday home listings often mean motivated sellers.
For most people, the holidays are a busy time. Homes that are on the market past, say, November 1 may be ripe for the picking. The seller may be motivated to sell as soon as possible to avoid interruptions during the holidays.
Curb appeal diminishes with changes in landscaping.
Much of a home’s appeal depends on how it shows to the Lake Minnetonka home buying public. And that appeal begins to fade a little as the grass goes dormant, the leaves fall off the trees and the flowers stop blooming. However, seeing the home without some of its landscape amenities gives a home buyer the opportunity to view the exterior objectively and perhaps more realistically.
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