“Fall” Into a Great Deal

Fall is one of my favorite times of year. The weather is cooling off and the foliage is approaching its peak color. The summer crowds and traffic have dwindled making it a breeze to get in and around town. The coastal towns have a ton of character and do a great job planning a variety of activities and festivals for tourists and residents. Ogunquit’s “OgunquitFest” is happening this weekend (October 19-21) and has events for all ages. Have you ever wanted to build your own bed on wheels and race it? How about marching in a costume parade? What about attending a bonfire on the beach? These are just a few of the activities going on along the seacoast at any given weekend. Fall isn't only a nice time of year for activities and sightseeing, it also happens to be one of the best times to buy a home in Southern Maine and New Hampshire.

You are probably asking yourself, what are the advantages of buying real estate in the fall?First, the crowds are a lot smaller. You won’t have the road or foot traffic that you may have to fight through on busy summer days, allowing you the time and freedom to truly explore an area. It’s always nice to be able to go into any shop or restaurant without having to manage crowds or longer waits. By being more productive with your time you can cover a much broader area or really get to know a particular region you are focusing your search on.

Second, many of the homes are easier to show. A lot of the real estate in southern Maine is a vacation or income producing rental property. These homes are typically rented out on a weekly/ monthly basis or occupied by the owner during the peak summer months. During these times, the opportunities of a buyer to physically view the home is much smaller. Generally, showings are held on weekends during the tenant turnover period. In the fall, homes tend to be unoccupied for larger periods of time, opening up more opportunities for showings.

Finally, sellers tend to be more motivated to sell. Since many of the homes in southern Maine are vacation homes, they tend to be unoccupied during the fall and winter months. Sellers generally are forced to pay property management companies for the upkeep of the home during the winter. Sellers would much rather unload their properties before being forced into the necessary expenses of maintaining an unoccupied home during the winter. This is especially true since we have been experiencing a prolonged downturn in the economy and housing market. Homeowners who could once afford a second vacation home on the water and the expenses associated with it may no longer be as financially capable. These cash needy sellers are especially motivated to unload their property and often for very buyer friendly prices.

Let me know your thoughts in the comments below!

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