News Reality

4 Reasons to Buy a Home After School Starts

by www.huffingtonpost.com
By Deborah Kearns Ah, fall. The return of all things pumpkin-spiced, cooler weather and the new school year (which this mom is thrilled about). It's also an opportune time to buy a home and possibly snag a great deal in the process. Buyer demand begins to wane this time of the year, which means motivated home sellers are more likely to play ball with you in negotiations. If you didn't find the right home during the busy summer season, or if you're just starting the process as a first-time homebuyer, here are four reasons why buying a home after school is back in session might be the best move you'll make this year. 1. Less competition Once school starts, there are fewer buyers to compete with on your offer. Most families prefer to move before their darlings head back to school. Also, cooler weather drives down demand. In fact, from now until February, buyers have more leverage than during the rest of the year because there's still a large amount of inventory relative to the time of year, says Jonathan Smoke, Realtor.com's chief economist. In 2015, sales of existing single-family homes nationwide declined 3.7%, from 4.86 million in July to 4.68 million in October, according to the National Association of Realtors. Granted, if you live in a market with a tight inventory and brisk sales (such as San Francisco and Seattle), you still might face stiff competition. But in markets like Indianapolis or St. Louis, you'll see a lot less gladiator-style jostling and more chances to negotiate with sellers when you buy a home. 2. Prices match market value If homes listed during the busy summer months didn't sell, chances are that they were overpriced. That means homebuyers will see prices fall more in line with market value, says Mark Goldman, a real estate instructor at San Diego State University and a loan officer with C2 Financial Corp. For example, in 2015, the U.S. median sale price dropped 5.5%, from $233,400 in July to $220,600 in October, according to NAR. Working with a real estate agent who can assess asking prices can help you avoid overpaying, Goldman says. If you want to buy a home that's priced higher than what your agent estimates to be appropriate, submit an offer that's in line with market value and with comparable sales data attached to back it up. 3. Time on market Another issue that works against sellers (but favors buyers) is the length of time a home has been on the market. The longer a home sits unsold, the more bargaining power a buyer has, Smoke says. Also, inventory tends to increase from summer to fall because homes aren't selling as quickly. Active listings on Realtor.com remained for a median of 65 days in May and June. But in August, that number was projected to increase to 72 days. That shouldn't dissuade potential buyers from considering a home, Smoke says. "If the home and location seem to fit, don't cross it off your list just because of the time of the year or the time on market," Smoke says. "There will always be sellers who need to put their home on the market." Also, the services related to buying -- moving, buying furniture, signing up for cable -- tend to be discounted toward the end of the year and during winter, Smoke notes. 4. More flexibility on terms In a typical seller's market, where bidding wars and multiple offers abound, buyers have little room to ask for concessions. But in a slower selling season, the tables are turned and buyers have the upper hand, Goldman says. In a slower market, you'll find more flexibility on terms such as: Closing costs. Repairs/cash credits toward repairs. Buyer concession to sell home first. Closing timeline. Likewise, if you are willing to give a seller more time to close, he or she might sweeten the deal by leaving behind a hot tub or offering a repair credit. If you want to ask for reasonable concessions when you buy a home, this is the time to do it. Deborah Kearns is a staff writer at NerdWallet, a personal finance website. Email: dkearns@nerdwallet.com. Twitter: @debbie_kearns.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.


Read Full Article On www.huffingtonpost.com
Latest
China Eximbank will fund Kenya's mapping of geological resources if ongoing talks succeed. A source privy to the closed-door meetings disclosed to The Standard that the talks are at an advanced stage.
Uganda, which wants to start building part of a multi-billion-dollar rail line to Kenya, must wait for its neighbour to decide on plans for its portion of the track before the project's main funder ma
China Eximbank will fund Kenya's mapping of geological resources if ongoing talks succeed. A source privy to the closed-door meetings disclosed to The Standard that the talks are at an advanced stage.
Uganda, which wants to start building part of a multi-billion-dollar rail line to Kenya, must wait for its neighbour to decide on plans for its portion of the track before the project's main funder ma
Albania's Health Ministry reports that scores of people from an opposition party rally sought medical attention after complaining of feeling ill. A ministry statement said that 76 people who attended
The U.S. administration is considering a blanket ban on laptops in passenger cabins of all international flights to and from the United States.Department of Homeland Security (DHS) Secretary John Kell
A two-year-old girl died today while three of her family members were injured when an autorickshaw, they were travelling in, rammed into a bus at the Sheikh Sarai traffic intersection in southeast Del
At least 23 people were killed in separate incidents of lightning strike and wall collapse triggered by squall in Bihar today, even as hot weather conditions continued in many parts of the country and
Serving Puducherry has been a challenge on several counts, Lt Governor Kiran Bedi said in an 'open letter' to the people of Puducherry on the eve of her completing one year in office. "I have had man
British Airways could face a bill of at least 100 million pounds in compensation, additional customer care and lost business resulting from an IT meltdown which affected more than 1,000 flights over t
Swedish satire "The Square", a send-up of political correctness and the confused identity of the modern male, won the Palme d'Or top prize at the Cannes film festival today. In a stunning upset, the
HALIFAX - Less than two years ago, Nova Scotia voters enthusiastically embraced Justin Trudeau's plan to spur the economy through hefty deficit financing, handing the federal Liberals every riding in
A recent attack on the accounts of Defense Department employees suggests how easily people can be duped into clicking on dangerous links.
Writing at Politico, military affairs specialist and journalist Thomas Ricks urged President Donald Trump’s National Security Advisor, H.R. McMaster, to walk away from his job because he does da
Stakeholders Relationship Committee has been underutilised by companies for dispute resolution
Swedish art world satire "The Square" today won the Cannes film festival's top prize, the Palme d'Or.
At least 23 people were killed in separate incidents of lightning strike and wall collapse triggered by squall in Bihar today. 18 persons were killed after lightning struck them across eight district
Four Nigeria nationals and one from Ivory Coast were arrested for allegedly peddling cocaine in the city, said police on Sunday.
WITH interest in agriculture declining among millennials, the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (Searca) plans to establish a Southeast Asian agri-museum a
DYSON Ltd., a British company that designs and produces vacuum cleaners, bladeless fans, and hair dryers, was launched in Davao City for the first time last Friday, May 26 at Chimes Boutiques, Sales S
M BARBERS Salon, a brand of men salon by celebrity hairstylist Jing Monis, targets to open a branch in Davao City by next year, together with another branch of Hair Philosophie. During the launching
THE units of buildings one to four of Phinma Properties' Arezzo Place Davao (APD) has already been sold out, an executive said. Rhoda Cua, APD Sales Head, said in an interview on Saturday said one of
Finance Minister Arun Jaitley today said the Centre would shortly announce the nature of the electoral bonds scheme. "This year, before the budget was being prepared, the prime minister had told us t
Residents of Vadodara, the tenth cleanest city in the country, today created a new Guinness world record with maximum number of people sweeping the 'floor' (single venue), an official said. Vadodara
Forest department employees at Mahabaleshwar in Satara district of Maharashtra have accused Shiv Sena MLA Tukaram Kate of assaulting them over collection of tourist toll. The allegations have been re
A total of 21 defendants were charged in the case.              
President Donald Trump is reportedly considering naming current Chief of Staff Reince Priebus as the next ambassador to Greece. As the White House struggles to find its footing in the face of a mounti
WWE fans are tuning out in droves since WrestleMania 33. What can the company do to win them back?
The rates have allayed fears that the GST would be inflationary in the short term
Congress vice-president Rahul Gandhi today condemned the butchering of a calf in public allegedly by some Youth Congress members in Kerala to protest against the government's move to ban sale of cows
Sacked Delhi minister Kapil Mishra will hold an "exhibition" of documents pertaining to the "scams" in the AAP-led Delhi government and the party on June 3. Stating this in his blog, Mishra also ques
The minister said the steps are being by the government to bring in private players in the sector
Why Future Robots In The Workplace Might Pay Taxes This question originally appeared on Quora. Answer by Dave Consiglio. No. Capitalism should change. Capitalism works reasonably well as an economic s
An employee of the fishery department has been found dead on the roof of Vikas Bhawan here, police said today. The deceased employee has been identified as Kamal Sharama, a native of Aligarh. He was

Recent News

Mississippi shooting sparked by domestic dispute leaves 8 dead, including 2 boys

Authorities in Mississippi say a suspect is in custody after eight people were killed in a series of shootings, including a sheriff's deputy.
Read Full Article

Trump slams media reports of Kushner's Russia contacts as 'fabricated lies'

Congressional Democrats on Sunday demanded to hear directly from top White House adviser Jared Kushner over allegations of proposed secret back-chann
Read Full Article

If Trump pulls out of climate deal, US could join Syria and Nicaragua as nonparticipants

Trump said in a tweet that he would make his ‘‘final decision’’ this week.
Read Full Article

Crash knocks pole-sitter Scott Dixon out of Indy 500

Pole-sitter Scott Dixon went airborne in Sunday's Indianapolis 500, sending his car into the inside fence and retaining wall in Turn 2 at Indianapolis Motor Speedway.
Read Full Article

New England Patriots QB Tom Brady delivers video message at funeral of Navy SEAL

New England Patriots quarterback Tom Brady delivered a video message to the family of a Navy SEAL killed recently in action.
Read Full Article

NFC OTA Surprises: Half are wide receivers

Off-season practices are not where offensive linemen establish themselves. OTAs (organized team activities) and minicamps are made to order for "skill-position" players.
Read Full Article

AFC OTA Surprises: Pass-catchers dominate

Off-season practices are not where offensive linemen establish themselves. OTAs (organized team activities) and minicamps are made to order for "skill-position" players.
Read Full Article

Cleveland Indians send struggling Danny Salazar to bullpen

The Cleveland Indians announced Sunday that struggling right-handed starter Danny Salazar will be sent to bullpen to work on his throwing routine and regain his confidence.
Read Full Article

STC fifth grader makes world golf

CEBUANA junior golfer Grace Pauline Quintanilla clinched a slot to the US Kids Golf World Championship after topping the Philippine International qualifier at the Orchard Golf and Country Club in Cavi
Read Full Article

Popular Finance

Trump blasts media over 'poorly covered' Montana election

Read Full Article

President Trump calls first overseas trip 'a great success' despite mixed reviews

Read Full Article

Trump accuses media of publishing 'lies' as he returns home to Kushner-Russia back channel reports

Read Full Article

Trump tweets that British Prime Minister Theresa May was 'very angry' over Manchester leaks

Read Full Article

A 'Monumental' exhibit of Alexander Calder's works at Denver Botanic Gardens

"Calder: Monumental" is on display at the gardens' York Street location and will not travel, making the exhibition unique.
Read Full Article

U.S. coach Bruce Arena calls up European-heavy roster for World Cup qualifiers

National team coach Bruce Arena has chosen a veteran 27-man roster for next month’s World Cup soccer qualifiers with Trinidad and Tobago as well as Mexico, with nine players coming off European cl
Read Full Article

Dodgers' Brandon McCarthy has tendinitis in right knee but expects to make next start

Brandon McCarthy expects to make his next start — and avoid a 15th trip to the disabled list — after an MRI exam on Saturday confirmed that the Dodgers right-hander has patellar tendinitis in his
Read Full Article

#39;RBI guidelines on P2P lending platform likely by June-July#39;

The Reserve Bank is expected to come out by June-July with guidelines to regulate the Indian peer-to-peer (P2P) lending market.
Read Full Article
 

Pepsico eyeing coconut water company: Report

The soda giant reportedly wants to buy Vita Coco.        
Read Full Article