Buying a Home in the Fall | Real Estate Bend Oregon

Both nature and human societies have their cycles and trends. Here in the Bend area we have certainly had some beautiful weekends, but fall is strongly in the air on some crisp mornings. Many of you have certainly been enjoying nature’s annual cycle of the spectacular changing colors of the trees.

Real estate also has its own rhythms and cycles, some of which are dependent on things like interest rates and the economy, and some are seasonal. At times, both home sellers and buyers tend to think that fall is a time where their opportunities have diminished, but most years this is really not the case. Actually, many years fall is the second busiest season for home buying and selling, with spring of course in the lead. Autumn offers specific benefits to both homebuyers and sellers. These include the often still relatively pleasant weather conditions for moving, and an ample array of homes for sale. In addition, there are some key financial considerations that start to come to the forefront.

It is often in the autumn that people begin to focus on what kind of year-end tax breaks they might still be able to achieve. And, as taxpayers have realized for some time, being a homeowner can create some substantial gains within one’s overall tax situation. Critical in one’s calculations are that both mortgage interest and property taxes are still deductible from gross income, despite the occasional political bluster to change the laws. And in addition, if you were able to prepay some of your interest before the due date of your first payment, and if you close your loan before the end of the year, these may both add to your overall deductions.

Purchasing your home in the real estate market in Bend, Oregon before the harshest part of the winter contains much appeal to many home seekers. Since fall is a more moderate season, there is usually not the same degree of risk that you might encounter with ice storms and such on moving day. And of course you are also avoiding the worst of the summer heat. By moving in the fall, families can avoid a major disruption around the winter holidays, which for many people is a very busy and often stressful time of the year.

One thing that is often seen in the fall real estate market is that there usually is an ample selection of homes for your consideration. However, competition for homes can be pretty high some years. This is especially the case if there are many people at once who want to take advantage of the period before the holidays. During such conditions there can be a high level of motivation, with fewer window shoppers compared to some other times of the year. If this is the case, there might be some pressure to make quick decisions due to a faster market. But always keep in mind your overall plan and budget, regardless of the time of the year! Do not be tempted to make an offer that is beyond what you can realistically afford, including all closing costs and any necessary insurance. By doing so, you can make autumn a wonderful time of the year to enjoy the comforts of a new home, and peace of mind knowing you are living comfortably within your means.