The love for real estate in California is very big and almost every real estate agent knows this. Houses here are snapped up faster than you can say “cash offer” in almost any price range and at nearly any time of year. But as we creep into fall, there are some great reasons why now is especially ideal for buying a home here. Let’s take a look at the things to consider if you’re thinking about putting an offer on a house in California right now. If you love the outdoors and want to settle down with your family somewhere that feels like home, then perhaps now is the perfect time to buy! Here are seven of reasons why you should choose to buy a house in California in the fall:
1. There is a wider range of inventory to choose from
One of the biggest obstacles for buyers in any market is not having a wide enough selection to choose from. But in the fall, there’s a lot of inventory to choose from and many homeowners are eager to get their houses off the market before the winter and holiday season comes. This means you’ll have plenty of options to choose from and can target the specific areas that you want to buy in. You can also take advantage of the fact that there will likely be less competition for the houses you want — so you can put in an offer that’s less aggressive than you might otherwise have to.
“Fall means more properties including repositioned old inventory that could not make sales in the prime season,” says Wesley Stanton, a real estate agent with The Stanton Hoch Team.
2. The market is slowing down
The market might be slowing down and this is actually a good thing for homebuyers. It takes time to find the right home, put in an offer, and close on a property — some markets are so competitive that they can take years to complete. But in California, the market slows down even more during the fall. This means you’ll have more time to find the right home, put in an offer, and close on a property without feeling the stress or pressure to rush.
This means you can take your time to find the right home. You don’t have to rush or settle for the first thing that comes up as the market is moving relatively slow compared to other seasons.
3. There is less competition in the market
The market is slowing down which means there’ll be less competition for you. Fall is often thought of as the off-season for real estate and as a result, demand for homes declines during this period. However, houses are still usually available. This is especially true if you’re looking to buy a starter home in California.
These homes don’t often get a lot of interest and this gives you a negotiating advantage. So if you’re in the market for a starter home, you can take advantage of the fact that there’s likely to be less competition. You can find a home that’s more affordable and reach an agreement with the seller faster.
4. House prices are relatively low
While there are many factors that go into determining whether or not a house has reached “peak” price, one thing we can say for sure is that home prices in California are still relatively low. In fact, California real estate is some of the most affordable in the country and it gets more affordable in the fall season. So if you’re on the hunt for a house in California because of affordability, you should choose the fall for this hunt. This will surely cost less than in other seasons.
5. Fall is a safer period of the year
Fall is generally considered a very safe period in the country and California is no exception. According to Sarah Brown, a home security expert for safewise.com, July and August (months just before fall) are the months with the highest burglary rates. Burglary rates significantly drop after this period making fall the safest period of the year.
One advantage of waiting until the fall to buy a house is that you have more time to explore the community. By the time the following burglary season comes around, you’ll have settled in and be able to take preventative measures, including installing that new alarm system, in order to keep your home safe.
6. Neighbors are very hospitable
California is known for being an incredibly fast-paced and competitive environment. But during the fall, it’s a completely different story. There’s a relaxed and welcoming atmosphere throughout the state as people start to wind down for the winter and prepare for the holidays.
If you’re buying a house in California in the fall, you can expect to find these welcoming and relaxed vibes — which means you’re more likely to find a home that feels like a good fit for you and your family. You’ll also find that people are more likely to welcome you to their neighborhood and provide you with helpful advice and resources.
7. Home buyers can take better advantage of tax breaks
Although you cannot avoid paying income tax, when you become a homeowner you can reduce the amount you pay, most especially during fall. Even if you closed on your home in December, property taxes and mortgage interest will still be deducted from your income for the entire year. This is the way it is everywhere in the country, and California is no exception.
The amount of property taxes and mortgage interest that homeowners pay can be deducted from your yearly federal tax return. Doing this in the fall can help reduce taxes for the next year because the amount of taxes paid when a home is purchased may be substantial.
In summary, there are several great reasons why now is the perfect time to buy a house in California. The market is slowing down, giving you more time to find the right home. Prices are still relatively low and there’s a lot of inventory to choose from. If you love the outdoors, want to settle down with your family somewhere that feels like home, and want to find the right home for you and your family in California, then the fall season is the perfect time to buy.
