Tuesday, April 3, 2012

Real Estate Season

Birds are singing, flowers are blooming, the sun has decided to make a more regular appearance…so what does that mean?

It’s real estate season!

Probably not what you were expecting me to say, but since we’re on the subject, let’s talk about it…

Relal esltate sealson [ree-uhl, reel ih-steyt see-zuhn]: adjective

1. A term used to refer to the time of year, primarily March through early August, when the greatest number of home purchases and sales occur. 

Now what we’ve established what real estate season is, let’s talk about what that means for you as a potential homebuyer or seller.

Buyers: First of all, as we enter real estate season, your choice of homes is likely to dramatically increase. The weather is getting nice, the school year is coming to a close, and you may have a tax return coming that could be a potentially used as a down payment.

According to Bankrate.com, the greatest number of home moves occur during the summer. As a potential homebuyer, this can be either an advantage or a disadvantage.  Due to the fact that there are so many more homes for sale during “real estate season,” your choices will drastically increase. This gives you a better chance of really finding a home you like. Unfortunately, there are also a lot of other potential homebuyers looking for homes as well, so if you find something you like, you may need to act quickly so you don’t miss out.

Sellers: For the same reasons mentioned above, real estate season is a great time to put your home on the market. Similarly, there are both potential advantages and disadvantages to selling a home during this time of year.  Due to an increased number of potential buyers, you may have more offers on your home, so you may be able to afford to be a little more picky about which offer you accept. But you also take the risk of being too picky, and not selling your home.

Do everything you can to put your home in “selling condition” (more on that later!) so that it stands out. Do a few things to increase your home’s curb appeal. Highlight the things about your home that would make it appealing to potential buyers. Does it have a great view? Make sure that’s not obstructed. Gourmet kitchen? Clean it up and really make it sparkle.  (“Freshly baked”—but not overpowering, smells don’t hurt either!) Swimming pool or Jacuzzi? Make sure they’re clean and at their best!

Regardless of whether you’re a potential homebuyer, or a potential home seller, know that this time of year holds some great opportunities. Take advantage of them!