We know the summer real estate market is usually hot (no pun intended), and this year’s market is no exception as interest rates remain low, but what else do we need to know about moving properties in July and August? We spoke with Janet Owen of KoenigRubloff and Lori Neuschel from @properties in order to find out.
1. If you plan to list your home within the next year, get started now.
Both Owen and Neuschel stress this advice. “July and August are not too soon to be thinking about your house going onto the spring market,” Neuschel says. “One of the mistakes sellers make is they wait until 2017 to get their house ready and interview agents, and then they’re scrambling.” If you’re considering selling within the next year, start interviewing agents now, explore staging options and, most importantly, work with an experienced real estate photographer (your agent should have a connection) to take pictures of your home. Summer sells!
2. Buyers increasingly want move-in ready properties.
“We are all so overcommitted that even if a buyer has the wherewithal to do a renovation, they just don’t want to take the effort,” Owen says, noting that many buyers moving to the city are empty nesters. “A lot of them are attracted to turn-key. This way they can go away to their second home or travel without having to think about a renovation.”
The luxury amenities that many new buildings are offering, from concierge services to professional dog walkers, make the new construction purchase even more enticing. “Each building that’s new seems to want to outdo the other,” Owen says.
In the suburbs, Neuschel sees the opposite flow — young families moving out of the city — with the same move-in ready desires.
“They’re so busy, in many cases both parents work, that they really don’t want to do much work [on a house],” Neuschel says, adding that many families are looking for the same type of newly constructed or updated home: white trim, light gray walls, white cabinets and an overall clean, bright look.
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