While spring is generally considered the "busiest" time of the year in real estate, many would argue that the opposite is true for the summer. For those home buyers out there who struck out during the spring and haven't find a house yet, don't be discouraged. Summer can offer some great opportunities to land the perfect house.
While the market typically peaks in the spring, not every seller gets an offer by Memorial Day. For the buyers out there, take a peek at those houses that have been on the market for 50-60 days. By this stage in the game, the sellers may be ready to come down to a price that you're willing to pay.
Be on the lookout for those diamonds in the rough. The houses that need a bit of work, or need to come down a bit on price based on their condition. Be ready to have vision when you look at these houses. Sure the kitchen may be a bit tired, or the carpet worn and ugly, thought those can be changed once you move in. Remember, condition is variable. Location is forever.
That said, if you're not handy at heart, you may choose to avoid those houses with obvious signs of abuse, like holes in the walls for instance. If the current homeowner isn't taking care of the house's outward appearance, one may wonder what deeper issues there may be.
Go house hunting when others aren't. Historically the last two weeks of July and the first two weeks of August the market is far less competitive. While everyone else is busy at their BBQs or on their family vacations, you could be making an offer on the perfect house.
Summer lends a perfect time to really see what the neighborhood is like. Take a drive through the neighborhood and see what it's like while everyone is out and about.
Summer generally gives buyers more opportunity to spend time with their agent. With fewer new listings coming on the market, many agents find themselves with more time in the evening and on the weekends because they aren't in the throes of houses subject to fast sales like they might be in the spring.
Sellers will often look at the summer season as the last chance to cut a deal before they take their house off the market all together before the "normal" routine returns in the fall, or even before they go on vacation. Hear it all the time: we want an offer, and then we want to go on vacation for a week and come back to deal with the move.
While spring typically offers more "activity" in the real estate market of buying and selling, any time of year is "good" to put your house on the market, or to buy a house. Someone's always selling; and someone's always buying. Summer's no different, and for homesellers and buyers a like, it's a great time of year to transition with a move.
Melissa Rolland is a licensed Connecticut realtor. She lives in Tolland, along with her husband Todd, a licensed broker. Together they manage the Rolland Realty Group at Keller Williams Realty. You can connect with them at www.RollandRealtyGroup.com.