Fall sales should be strong

There is a nip in the morning air. Kids are back in school and the leaves are beginning to turn colors. Do not let the dormancy of fall foliage set you into dormancy as well. Realtors are selling properties daily and for many, September is proving to be busier than August. Gone are the smoke filled skies and back are the beautifully clear and comfortably warm skies of fall.

Sellers who keep their homes on the market may experience fewer showings after school starts but the folks looking for real estate are likely to be more serious. Back to school means back home for many visiting families who enjoy the decorating ideas and free snacks to be gained by attending open houses. Gone are those more interested in free boat rides or county tours at the expense of an agent’s time and fuel.

Buyers in the fall are likely to experience less competition as they shop for homes since many other buyers have had to return to other places when school started, even though it is their intent to move here eventually. They may also find that sellers, overwhelmed by lookers in the spring when they first listed, are a bit more motivated now since the volume of traffic has slowed a bit. When market activity is brisk it is only natural to expect to command a high price. If a property is overpriced and therefore unsold throughout the summer, a seller is more likely to entertain a more reasonable offer with fewer people visiting.

For some families the pressure to find a home before school starts may compel them to pay a premium and may lead to multiple offer bidding wars for reasonably priced properties. Now that the urgency has passed — although multiple offers are still happening — the chances are less likely that you will have competition as frequently as in the peak season.

As most people realize there are many advantages to owning a home over renting. You cannot deduct your monthly rent usually, however, you can deduct mortgage interest and any fees or points paid to obtain the financing for your home. Since the early payments on a mortgage are mostly interest on the loan you could find substantial tax savings before the end of the year. This could be especially beneficial if you have experienced a significant increase in pay during the year.

As the year goes on and we creep from fall into winter, more and more sellers will let their real estate listings expire. Others who have been thinking about listing but procrastinated through summer my be thinking they will wait until spring. For sellers who continue to market aggressively through the cooler months of the year there are plenty of opportunities. Fewer properties on the market means less inventory for buyers to consider so those compelled to buy due to a job transfer, retirement or those who have cashed in their equity in another location and no longer have a permanent residence are good prospects. If your home is not on the market, those folks will not be coming to see it.

There are always good, sound reasons to buy or sell. Your Realtor will help advise you and keep you out of trouble while guiding you to a good decision.

Trust an expert…call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d’Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d’Alene Association of Realtors, 409 W. Neider, Coeur d’Alene, ID 83815 or by calling (208) 667-0664.