LOVELAND – Spring has finally arrived and with it comes the busiest time to buy and sell real estate. If you are looking to buy a home during this time of year, these facts might give you some added perspective.
Inventory vs. competition
There is often an influx of new listings during the Spring and Summer. The warmer temperatures make preparing a home for sale a little easier. Many sellers also believe that they will get more money for their home during these months since their home will show better without snow on the ground.
As a buyer, you may see more options during this time of year, which is always a plus. Unfortunately, you won’t be the only one in the hunt for a new home. There is also more competition for listings during these months. The potential for multiple offers and homes selling above asking price increases during the Spring and Summer. You also have less time to think about a home when competition is high.
Limited time frame
If you have children in school, summer is an ideal time to move. Moving during the summer creates less of a disruption for children when it comes to school, especially when the move requires a change of schools. However, the limited time frame during which you must find a new home, sell your existing home, and complete the move will often add pressure to the decision making process.
You are more likely to make hasty decisions when under such pressure. For example, you may settle for a home that does not fully fit your needs simply because nothing else is available at the moment. Be conscious of your decision-making logic and always keep the big picture in mind. Your home is likely to be a long-term investment and should meet your needs for both the short and long term.
Know what you’re up against
There are pros and cons to any real estate buying and selling season. There is really no better time to buy than another. The key is understanding what type of market you’re in so that you can act accordingly. An experienced real estate agent can keep you informed of market conditions and help guide you through making educated decisions when it comes to your home purchase. This includes selecting homes, making offers, and negotiating terms.