The Real Estate Market’s ‘Black Friday’ is Here

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• 5 Ways You Can Score a Black Friday Real Estate Deal • 

Now that summer is over, it might be a good time to start thinking about buying a home and getting the best deal this fall. According to Realtor.com, the end of September and early October is when home buyers see higher inventory and less competition.

Here’s why this week is considered the Black Friday of real estate 

In the spring and summer, buyers with school-aged kids are anxious to move in before the start of the school year, while other buyers hustle to grab the most appealing properties on the market. Many people who haven’t snatched up a home by mid-September typically will table their search. (Source: CNN)

Homes are 2.4% less expensive on average than during their peak 

As a result, during this “Black Friday” week, 5.8% of listings nationwide see price cuts, making them, on average, 2.4% less expensive than during their peak. This effect is still the most noticeable in the West, where homes on the market see an 8.6% reduction—to 4.6% lower than their peak—followed by the Midwest, the South and the Northeast. (Source: Mansion Global)

According to Forbes,  buyers should do these five things now to find to score the best deal this week.

1. Scrutinize listing dates

Look for homes that have been on the market for awhile. Typically homes that have been on the market for more than 90 days will be prime targets for price reductions.

2. Get your finances in order

Step one in any market is getting pre-approved by a lender to buy a home. Don’t have a lender? Check out Reali Loans.

3. Be willing to close soon

Offering to close sooner is more appealing to a seller, especially if the home has been on the market for more than 60 days and it is vacant. 

4. Know what’s a good deal

Let your Reali REALTOR® run the numbers so you can offer the best price possible. Your local team will know what’s a good offer price versus what is still too high for the market.

5. Act fast!

Don’t assume you’re the only one watching a home. If you love it, get your bid in soon and with your strongest price. The last thing you want is to get outbid by another home shopper.

And just think, if you buy a home now and close before the holidays, you’ll get your Reali Rebate in time for some real Black Friday shopping or hosting friends!

Ready to take the next step or have questions? Chat with an expert to learn more about buying with Reali.

The Bottom Line

Call us at (858) 880-0195 or email portia.green@reali.com to get started.

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About The Author
Portia Green, REALTOR®

Portia Green is a highly experienced full-time REALTOR® specializing in the representation of Sellers, heralded by her clients as data-driven and an effective negotiator. Producing $25M total in residential sales volume, Portia's goal is to help her clients achieve the best results when selling their homes and to make their experience an enjoyable one. She has successfully sold real estate since 2008 and has gained an in-depth knowledge of local real estate markets & seasonal trends. Portia has achieved a 100% customer satisfaction rating and wants to share her expertise & personal service with you in the sale of your home. When listing your home with Portia Green and Compass, you'll receive the hands-on service you need and desire. Portia will help you manage the entire process of selling your home from pricing, preparing and staging the house, to marketing, negotiating offers, inspections, all the way to closing. She will recommend skilled vendors for any job needed, personally host Open Houses, and ensure that all showings are accompanied. At Compass, Portia offers a wise no-nonsense way to sell your home for the best price and the least hassle. With a keen eye for staging & preparing listings to maximize Buyer appeal, all of Portia Green's listings are professionally photographed using HDR (High Dynamic Range) photography to provide the highest quality photos in the industry. Professionally printed marketing materials are prepared for all Open Houses. We also capture a 3D scan of your home that creates an interactive walkthrough online along with a custom-designed floor plan and targeted digital marketing campaigns on Google & the most popular social media channels. Compass participates in the Multiple Listing Service, which is the local real estate database of homes listed for sale that all REALTORS® use in helping their Buyers find houses. Your home will appear on every real estate website, in its best light, making a stunning camera-ready debut. Portia Green's home valuation expertise and extensive experience in comparative market analysis will help price your home accurately. She has refined her skills to help you pinpoint which features of your home will result in more showings and better results. Her mantra is for you to be ready to sell your home and feel good about that first. Portia knows that home inspectors always find a problem; that drones take some of the best photos in town; and that her eyebrows will grow to the floor in the time it takes her to read everything that's happening with your HOA, but that doesn't mean she won't do it anyway. Eyebrows be damned. You'll always need a place to unplug, connect, dream, grow, or just be yourself. That makes what Portia does even more meaningful. She’s ready to go the extra mile to help you find just the place. Whether you're selling your very first home, offloading an investment property, or want a vacation getaway with passive income, she is attentive to the details of every home sale. Portia helps busy people navigate this crazy real estate market like a pro, so don't be shy. Every great relationship starts with free advice and a friendly chat. Ask as many questions as you need to. Selling houses is her jam! www.portia.realtor