Cool time to buy

Spring and summer traditionally are the busy months for real estate transactions – so much so that people may not even consider listing or searching for a home after Labor Day.

But even here in Boulder Valley, which can see some unpredictable fall weather, missing out on this season could be a considerable mistake.

“Actually, when if you look at the absorption rates (between fall and summer) they are not that different,” said Karen Bernardi of the Bernardi Group at Coldwell Banker in Boulder. “There maybe more homes on the market (in the summer), but if you find a home you like why wouldn’t you buy?

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“We’re not in Canada here — it’s pretty in the fall,” Bernardi added. “December is a great month for me to sell you a home.”

Sellers often think their homes show best in summer, with flowers and gardens in full bloom, Bernardi said, but fall can be equally beautiful.

“As far as selling, I wouldn’t have any hesitancy at all,” she said. “In September, it really picks up again.”

Mary Ellis, broker/owner of the New Century Group of Boulder and Lafayette, said this fall, in particular, might be great for homebuyers.

“You don’t have that insanity that we had in the spring” when short inventory made for multiple bids when homes came on the market, Ellis said. “Not having so many other people out there looking is helpful, and the inventory this particular year has opened up some, so there are more homes for people to look at.

“In the big picture, interest rates are still a bargain,” Ellis said. “This fall, there won’t be so much pressure that they have to act (on bidding) right away.”

Some studies show that home prices fall with the leaves, which is a great reason for buyers to get into the market. And being in the market when others may not be might be the icing on the cake.

“It is much like your basic economics model,” said Jason Thomas, a senior mortgage consultant with Premier Mortgage Group of Boulder. “If there are fewer people shopping then that puts you in demand.”

The demand fell squarely on available homes this summer, so hopes are high that inventory may be deep enough to take some of the pressure off buyers this fall.

“You had a lot of bidding upon properties this summer,” Thomas said. “I had people bid on three, four or five houses before they got a contract because they were losing bids to people who bid higher than the listed price.”

Getting in on the market at this time may put buyers in an ideal situation, Thomas said.

“I see people out there looking for two or three months before they find a property, so a lot of people would be putting a property under contract in late October,” he said.

That may a great bit of timing for buyers looking for an advantageous price.

“I see a lot of people get great deals in the fall,” he said. “That is especially true as the fall winds down and we get closer to Christmastime.”