Here on Chicago’s North Shore, next to spring, fall is often the busiest real estate time of the year. Although you can buy and sell houses at any time, the fall North Suburban real estate market offers abundant benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, commonly a wider selection of houses, and the beautiful presence of mother-nature all around!
To further provide examples of the North Shore home buying advantages you can enjoy during the autumn months, below is a more detailed look into the benefits of looking for and purchasing a home in the autumn season.
Mortgage loan year-end tax breaks
By September and October, people are already reviewing year-end tax breaks they may be eligible for. Fortunately for homebuyers, owning a home can yield immense dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. In addition, if you have prepaid ant interest before the due date of your first payment and you close your loan before the year’s end, that amount will also be deducted. Consult a tax professional for specific details and guidelines.
Often more home buying choices
Given that North Shore home buying and selling is at a peak during the fall season, the real estate market often becomes a highly competitive arena. While there may be additional pressure to buy due to the quicker turnaround of houses on the market, at the same time you also benefit from the wider selection of homes available during the fall season. In fact, between the months of September and December, you may be fortunate enough to visit several North Shore open houses in a single day. Therefore, to make sure you don’t miss out on finding your dream house, it’s a good idea to examine on-line ads often since the listings are updated frequently.
Getting ahead of mother mature
Buying a North Shore house in the winter may not be very appealing to most home buyers. Low temperatures and poor weather conditions can potentially make moving more difficult. But by moving in early autumn, you gain the added benefit of eluding the sweltering summer heat.
Fall home buying TIP: Taking into account that fall is the second busiest season of the year for buying and selling houses on the North Shore, you may be tempted to put a bid on a home for fear that another buyer will better your offer or snatch it up before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement, know what your ceiling is and stick to it. More info HERE
The North Shore real estate Fall 2014 forecast calls for ongoing top tier results, high ranking top producing performance, and sustained elite service for Gloria Matlin. With over 25 years of trusted real estate professionalism, she is the consummate guide on Chicago’s North Shore. Look to her for assistance with relocation, buying, selling, investing, or to inquire about local communities, she can help make North Shore real estate dreams a reality. Her home office is located within the top brokerage firm on the North Shore-Coldwell Banker Residential real estate office. 640 Vernon Avenue, Glencoe, Illinois 60022.