As we head through the month of August, we can’t help but be bombarded with back-to-school ads, fall clothing on the racks and the feeling that summer is almost over. Luckily, summer isn’t even close to being over and the real estate market is still rolling along with strong sales in the Comox Valley.
Did you know that summer is one of the best times of the year to buy or sell a home? The kids are out of school, parents are taking holiday time and the weather is beautiful – nothing is in the way of seeking out the perfect home or putting your own home on the market.
Since sellers undoubtedly know that summertime is the time to sell their home, buyers generally have a great selection of homes to look at, usually at competitive prices due to the increase in inventory. Additionally, because buyers are coming out of the woodwork looking to buy before school is back in session and reality sets in, buyers are more likely to pay a bit more for that perfect house, especially with the increased buyer competition! It really is a win-win for both buyers and sellers.
Here are some tips for buyers who are interested in jumping into the real estate market in late Summer.
Be ready to move
Ensure you’re pre-approved for your mortgage. Many sellers in the Comox Valley will accept the second or third highest buyer if they are pre-approved versus buyers who haven’t addressed their mortgage needs yet. Bonus points if you have an all cash offer (wouldn’t that be nice?), if your current home has already sold and if you’re flexible with possession dates.
Look at older listings
If a home has just been put up on the market chances are the home owners may not want to accept an offer within the first few days. They’ll be hoping that a higher or more attractive offer will come in if they wait. However, homeowners who have had their home listed for several weeks or even months may be a bit more eager to sell, thus putting the buyer in the driver’s seat when it comes to negotiating.
Find a great realtor (I might be able to recommend one!)
Working with a real estate agent who understands your wants and needs and is willing to go the extra mile to get you into your dream home is extremely important. You will need a realtor who can provide expert advice, show you the best properties and ultimately write up an offer for the most important purchase of your life!
Here are some tips for sellers who are thinking they may want to put their home on the market in late Summer.
Selling your home inevitably comes with showings, reviewing offers, countering offers, signing documents…and the list goes on! Try to be as flexible as possible during this process. Being open to dinner-time showings and early morning offer reviews could mean the difference between your home selling versus sitting on the market for another month.
Remember that first impressions count
It might be difficult, but try to keep your home (inside and out) clean and tidy at all times. You’d hate to accept a last minute showing only to realize that the sink is full of dirty dishes and your kids have toys strewn across the yard. Buyers can likely see past your personal items and mess, but eliminating that obstacle will help improve the buyers experience in your home.
Again, find a great realtor!
Whether you’re buying or selling, having an experienced and passionate local realtor is a must! You don’t want to lose valuable time working with an inexperienced realtor. You need a well-connected realtor with expert market knowledge and negotiating abilities so you can sell your home quickly and feel confident that you received the best return on your investment.
If you or anyone you know is thinking of buying or selling this summer in the Comox Valley, I’d love to help! My knowledge of the local market and years of real estate experience will help put you at ease and put you on the right path towards your dream home!
To view my listings click here. To view the latest listing in the Comox Valley go here. And if you have any questions, feel free to call me anytime at 250-792-2776 or email firstname.lastname@example.org today!