On real estateEvery season offers advantages for buyers vs sellers, and in my opinion, summer swings more for homebuyers than sellers.
Sales activity slows down during the lazy days of summer. School is out, and graduation ceremonies for every grade level from elementary to college keep a lot of families busy in June. Summer vacations then take many folks out of town in July and August.
We see a brief pause in the market during the summer months, giving buyers who are around an opportunity to strike a deal on a new purchase. Summer sellers who listed too high in the spring may be getting anxious for offers, and price reductions open the door for serious negotiation. With less competition, buyers who are shopping in summer can often land a good value.
Inventory of homes for sale continues to build in summer, so as demand falls, you have more homes to choose from. Everyone likes having options, and the slower pace gives you more time to consider them all before making a decision. Your Realtor can follow up on any homes of interest for possible price reductions, and let you know the minute new listings hit the market.
If you must sell a property before buying, summer gives you a better opportunity to get a contingent offer accepted. Sellers who normally would not consider a property contingency may warm up to the idea if they have no other offers and showings have slowed.
Being able to move seamlessly from one property to another without the need for an interim rental will minimize disruption for everyone in the family, including the furry four legged ones.
Summertime
is an ideal time for homebuyers with children to get settled into a new
district before school bells ring in the fall.
The
extra time parents have without having to juggle hectic school
activities allow more hours for house hunting. And home shopping during
the summer break means that kids can more readily attend showings—
important when offer time is of the essence and parents want all family
members to approve of the new home.
Enrollment
procedures vary from district to district, so during the summer months
you have a chance to find out what you will need and when to secure your
child a spot in the new classroom.
Viewing a home in
the summer will also give you the answers to a few important questions
about the property, especially if you enjoy an active indoor/outdoor
lifestyle. Does the pool get enough summer sun to warm up to comfortable
temps? Are there shady spots to cool off and entertain? And of course,
how well does the AC work?
Adriana Donofrio • Podley Properties Glendora (626) 926-9700 • adrianad@podley.com