Fall in South Florida: A Great Time to Buy

Jean-Luc Andriot explains why autumn is a great time to purchase a luxury home or condo in South Florida.

Fewer competitors

“Just like the seasons, the housing market experiences ebbs and flows,” Jean Luc Andriot says. “In the spring, sellers are hot to get their properties on the market. It’s a more popular time to put a home on the market, and the season is quite busy with home transactions.”

“However,” Jean-Luc adds, “homeowners will often list their home prices too high, which leads to a series of price reductions in the coming months.”

Mix that with families who want to already be settled before the new school year, and you have yourself a less competitive South Florida market, leading to lower prices and higher chance that you’ll end up with the property you want.  

Tax incentives to close a sale by the end of the year

Even if you miss the summer rush, there are pockets of opportunity to file for property-related tax exemptions, and the fall is a great time to get them on the books. Even if you miss the summer rush, remember you still have an opening to file for these exemptions, if you qualify:
-Mortgage Interest Deduction
-PMI and FHA Mortgage Insurance Premium Deduction
-Prepaid Interest Deduction
-Property Tax Deduction
-Energy-Efficiency Upgrade Deduction

Here is more information from the Florida Department of Revenue 

Motivated sellers are eager to wrap things up before the holidays

If a home seller has had a home on the market since the spring, chances are, he or she is more than likely ready to finish up the sale before the hustle and bustle of the holiday season begins.

Why is this a good thing for buyers? You’ll also get the benefit of wrapping up a sale before the holidays get going. You will likely encounter a homeowner similarly looking for the tax benefits that go along with closing a sale before the December 31^st deadline. Ask why the seller is selling and look for listings that offer incentives to buy before the end of the year.

The proof is in the numbers 

RealtyTrac, a leading provider of comprehensive housing data and analytics for the real estate and financial service industry, has analyzed the sales of over 32 million homes and condos since 2000 and found that the best deals come in October. On average, sales prices were 2.6% lower than normal.

The company finds three of the top five days to buy at a bargain fall in October – the only month where all four major professional sports are in season or at least pre-season. The other two days fall in February, around the time of the Super Bowl.

Check out our most recent listings here!

If you’re looking to own or sell your luxury home, rely on the experience of Jean-Luc Andriot and his team of professional realtors at Keller Williams. Call Jean-Luc today at 561-213-9008. He and his staff specialize in luxury properties, including luxury condominiums in Boca Raton, Highland Beach, Delray Beach, Gulf Stream, Ocean Ridge and more.