Just like fresh fruit and fashion, the real estate market has its seasons.
During the winter, there aren’t as many buyers and sellers because people tend to be busy with the holidays and end-of-year deadlines, not to mention that not a lot of people want to uproot and move in under harsh weather conditions. Summer, on the other hand, means kids are out of school, which makes it logistically easier to take the whole family out on a house-hunting expedition. The warm weather also makes it easier to transport belongings and do home renovations. If you’re buying a home in Orange County during the summer, here are some tips on what to expect so you can be prepared and proactive in securing your ideal home.
- Expect a lot of competition
Summer brings an increase in activity in the real estate market. A large part of this is due to the pleasant weather and the fact that kids are out of school. It’s inconvenient to move houses in the middle of the school year, so summer is the best window for a move to happen. Families looking to buy a home will flock to the real estate market, limiting the supply and raising market prices.
- Expect better options
Despite the increase in demand, the supply also increases during the summer. This tempers the high demand, easing market prices to more reasonable levels. A lot of sellers currently live in the home they’re selling, so if they have children like you, they will also want to move houses before the summer ends. It’s easier for sellers to do renovations and landscaping during the sunny days, and the weather also allows them to take better photos of the house.
- Expect to negotiate
While summer months are generally busier than the rest of the year, a slowdown is expected this year. The housing market is still feeling the effects of the pandemic, with low inventory and higher mortgage rates. However, with demand being significantly lower than in recent years, the summer housing market may become a better time for you to negotiate home prices.
- Expect to be vigilant
While it’s easy to be charmed by a home’s curb appeal or beautiful kitchen, it’s important to stay vigilant and focus on what’s important. Take a closer look at the condition of the roof, see if the paint on the walls are peeling, and check for leaks and creaks. Once you’ve settled on a home you like, get an inspection done to check for any issues that might require substantial costs to fix.
- Expect to contact the experts to fast-track your purchase
The summer home buying process can take anywhere from a couple weeks to several months. If you want to fast-track your house hunting and move in before the summer ends, it’s best to get the help of a Realtor.
Meet Robyn Robinson, an expert Realtor catering to communities in South Orange County. With over $1 billion in sales and experience spanning over 3 decades, Robyn has helped countless clients sell and purchase homes. She can help you find the ideal home tailored to your needs.
Contact Robyn Robinson today at 949.295.5676 or send her an email here for more information on the most desirable homes in South Orange County.