If you’re looking to buy or sell a home this summer, you can expect a big increase in market activity. As always, buyers and sellers will become much busier as they try to negotiate the summer real estate market in San Diego.
Why is the housing market different in the summer?
The primary reason for the difference is the weather. During the winter, the cold, rain, and gloom tend to keep people at home. Many would-be buyers would prefer to stay indoors, rather than driving around looking at houses.
When the weather gets warmer during the summer, many more buyers are willing to go out and search for a home. (For this reason, it may be better to buy a house in the winter time. The market will not be as competitive and you can often find a better deal.)
What effect will it have on me as a buyer or seller?
As a buyer, you can expect a lot more competition when trying to find a house. There will often be several offers on the same property. Unlike the winter, where you may be able to get by with a lower offer, you may need to go above and beyond the asking price right from the start.
As a seller, this is the best time to sell your house. As discussed above, you will most likely have much better success than winter time, and you may be able to sell your home for significantly more.
Tips for finding a home during the summer
If you want to buy a house this summer, please don’t let the above discourage you. Here are some tips to finding a home even in a difficult season:
• Get a head start: Contact a lender and get preapproved for a loan as soon as you can. Tell your agent the situation and be ready not only to move quickly to see houses, but also to make an offer if you find a home you like.
• Be willing to compromise: To help increase your likelihood of finding a home, you may have to forego less important repairs, or waive or shorten the contingencies in your offer.
• Make a good offer: Don’t gamble on getting a good deal in a summer market. Making a high offer from the start can put you ahead of the pack of interested buyers.
• Work closely with your agent: Your agent will likely have good advice for each particular house you consider. This might include writing a personal letter or appealing to the seller’s non-monetary concerns in some way.
Buying a house in San Diego can be a difficult process, especially in the summer. Be prepared for a hectic buying season and do your homework before jumping in. Most importantly, find an experienced, qualified agent that you trust and who can walk you through the process.
Palisade Realty can help you buy or sell a house
Whether you’re looking to sell a property, find your dream home, or purchase an investment property, Palisade Realty has the knowledge and experience necessary to help you achieve your goals.
If you’re interested in learning more, please call us at (619) 794-0218 to discuss how Palisade Realty can help you.