School is Back in Session, and So is the Real Estate Market

 It may still be close to 100 degrees outside, but fall is on the way.  Kids are headed back to school, vacations are mostly over, and many people still think of Labor Day as the true start of a new year.  

If you are interested in selling your property, now just may be the season.  There are plenty of buyers out there, and many of them were shut out of the spring market with too much competition. Also, we've been reading about the "wedding boom" that is following the COVID pause, so more households are forming all the time.  People who have been living in pods are headed back to work, sometimes in remote locations, and change is in the air.  Listing your home now will attract all of those groups.

But don't get greedy!  The fall buying window is shorter than the one in the spring, and it isn't a good idea to try to test a high price, with the thought that you can drop it later.  Figure out your bottom line, and price to sell where you can make that number, but where it will appraise out.

Buyers should be thinking that they can take another bite at the apple, now that the rush is over.  Fall in New England is glorious, and many homes look at their best.  You just may fall in love with your forever home.  Winter is coming, and it will be so nice to be settling into a new place, just in time for the holidays.  The pandemic months gave everyone a chance to see what isolated living is like, and to get a better sense of their priorities in a home.  Now that you know, it's time to act.

We've all spent the last year and a half in a state of suspended animation, while we wait to see what the new normal will end up looking like.  While there are still no firm answers, there are clear trends, and clear preferences among buyers.  We have become more adaptable, because we've had to, and we can apply that trait to fitting ourselves into new living situations.  Learning to embrace the possible has been a key success factor lately, and it applies well to real estate.  

Back to School Bump

August is traditionally a time for lazing around, during the hottest part of the year.  September is another story.  Once kids and teachers go back to school, and the weather changes, people start doing what they put off while the weather was warm.  One activity that reactivates is house hunting.  Regular schedules lead to more predictable weekends, and that leads to open houses.  Buyers often want to conclude sales during the calendar year, for tax reasons or just because the end of the year makes a good deadline for getting it done.

This is especially true in our region, where universities are so dominant, with long summer breaks when many leave town.  In addition, we have great private schools in the region, meaning that families can move without changing schools.  Sellers are also more motivated, and there are some great transactions for buyers willing to move quickly, and close before heating season starts.

If you have hopes of beginning 2020 in a new home, this is the time to get serious, as a seller or as a buyer.  Activity will see a bump beginning next week, and a shorter season much like the spring market will commence. Don't delay!

Back to School, Back to Work

I've been out of school for a very long time now, and I don't even have kids in school anymore.  Still, to me Labor Day seems like the beginning of the year, every time it rolls around.  And I don't think I'm alone, because we can certainly notice it here in the office.  One agent just said to me that he'd been spinning his wheels all of August, waiting for people to get back to work and also to their real estate issues.  This year, even the weather made us want to get out of the swimming pool and back to our desks.

What does that mean for sellers and buyers?  There is a noticeable uptick in the market from Labor Day through Halloween, and it's a window you should use to your advantage.  If you trying to sell, this is when you need to get real about the price, the condition, and the cost of waiting versus selling now.  If you are buying, you may find more product out there to choose from, and you may find it easier to make a deal, particularly if you are buying for cash.  Whichever camp you're in, don't let the season pass you by.  Get out there and let the cooler weather spur you on to action!