While fall leaves may signal cooler weather and the start of a new school year, it can also mean the right time for another change — by putting your property on the market. Yes, fall is a buyer’s market, with many eager, prospective homeowners looking to get settled in before the arrival of the holidays.
Westchester County has experienced a strong period of growth for 2012. According to Jason Wilson, host of “How’s the Market?” a local weekly real estate radio show on WFAS-AM 1230 and the brokerage manager of the Scarsdale brokerage of Julia B. Fee Sotheby’s International Realty, there’s no better time to sell. “We’re in a recovery mode,” Wilson said. And, with the spring market starting earlier this year, 2012 is turning out to be a very different year in the real estate market altogether.
If this doesn’t convince you, here are six reasons why you shouldn’t delay in putting your property on the market now:
- Record low interest rates and low prices have created an opportunity for renters to take advantage of the tax deductions of owning a home
- With the record low interest rates, one has more purchasing power than next year
- The mortgage guidelines are supposed to tighten up more in 2013, which might reduce the availability of buyers for your home
- The Westchester selling season is up 349 more homes sold this year than last
- Real estate is trending to be a 12 month cycle this year with our mild winter and busy summer – it is no longer a spring selling season only. The fall market over the past several years has been a seller’s second chance to capture the buyers that have not purchased in the spring, as well as for new buyers that want to take advantage of the record low rates
- The impending 3.8% real estate tax for 2013 that may affect some transactions
You can tune in for more tips from Jason about the Westchester real estate market on WFAS-AM 1230 on Saturdays from 2-3 pm, or listen online on the WFAS-AM website. For more information on getting your property on the market, visit Julia B. Fee Sotheby’s International Realty.