While it may not be the traditional homebuying season, fall can be a great time to find a bargain.

Spring and summer are known as the peak seasons for real estate activity, but if you're looking for a bargain, you may want to put your house hunt on hold until August or September. While the selection of homes on the market might not be as plentiful as in the spring, you'll have less competition from other buyers. Plus, sellers will be more motivated and willing to negotiate, so they may be more willing to respond to lower offers.

NEXT: #3: Think like a buyer when selling your home >>

• Learn 10 more ways to get a great deal on a home in the fall
• Get 10 fall selling strategies to help you close a deal before the holidays
• Visit Your Home: Fall Season for fall decorating ideas, winterization tips, real estate advice and weekend projects