How to Become a Home Buyer this Fall

By Vera Gibbons

So, you’re finally off the fence and ready to buy a home before prices — and mortgage rates rise any further. Here’s what you need to know about jumping into the market at this time of year:

Know your market: The bottom line is that different markets behave differently during the fall

Selection is limited: you can expect the selection to be even more limited than it currently is in some markets

There’s room to negotiate: While some buyers will pull their homes off the market, others who have been holding out for the best possible price may now be ready to come down. While some homeowners are determined to get a set price, others may simply want out at this juncture.

Check maintenance areas: Visit the home on a rainy day and see for yourself. Then go inside and check out the furnace, looking for drafts, leakage issues and other possible structural/maintenance problems. If they’re apparent, determine how much money it’s going to take to get everything up to snuff and factor that into your offer, adjusting your price accordingly.