Buying a Home in the Fall: Why It Could Be Your Perfect Opportunity

Home Blog Buying a Home in the Fall: Why It Could Be Your Perfect Opportunity

Posted On: October 3, 2024 by Peoples Bank of Kankakee County in: Home Mortgages

Missed Out on Buying a Home This Summer? Don’t Worry—Fall Could Be the Perfect Time to Buy!

If you didn’t find your dream home during the busy summer months, there’s no need to stress. Fall offers unique advantages for homebuyers that can make it a great time to find the right property.

Here’s why the fall season could be your perfect opportunity—and how Peoples Bank can help you along the way!

Why Fall Could Be an Ideal Time to Buy

1. Motivated Sellers
By the time fall rolls around, sellers who still have their homes on the market are often more eager to make a deal. They may want to sell before the holidays or secure a sale before the end of the tax year, which can translate into better deals and more favorable negotiations for buyers like you.

2. Less Competition
The hectic summer housing rush slows down in the fall, with many buyers putting their searches on hold as the school year starts and the holidays approach. With fewer buyers in the market, you’ll likely face less competition, making it easier to negotiate and avoid stressful bidding wars.

3. Potentially Better Prices
Fall can bring more flexibility in pricing. As the year-end approaches, sellers might be more willing to lower their asking price or negotiate, especially if they’re keen to close the sale before the holidays. This can mean substantial savings for you!

4. More Focused Real Estate Agents
Since the fall is typically slower for real estate agents, they can dedicate more time and attention to your home search. You’ll benefit from their personalized service and support as you navigate the homebuying process.

5. Timing Your Purchase for Maximum Value
Start your search now to get the most out of the fall market. Sellers are motivated to close deals before the year’s end, and you’ll have a better chance at finding a home that fits your needs at a favorable price.

Other Key Considerations:

As fall presents great opportunities, make sure you’re personally ready to buy—ensure your finances, credit score, and job stability are in good shape before taking the plunge.

How Peoples Bank Can Help

Peoples Bank is here to support you through every step of your homebuying journey, whether it's fall or any other time of year. Our mortgage experts can guide you through your loan options and help you secure the best deal for your new home.

LEARN MORE (link: https://www.peoplesbankdirect.com/personal/borrowing/mortgage)

The Bottom Line

Each season has its pros and cons when it comes to buying a home, but fall can be overlooked as a prime time to purchase. With motivated sellers, less competition, and better prices, it could be the perfect season for you.

If you’re ready to make your move, start the approval process with Peoples Bank today!

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.