The word across the web is that this summer is set to be a record season for the real estate market and a great time for selling a home. So will it be easier for homeowners to find a buyer in the next couple of months?
Summer is traditionally one of the hottest seasons for the real estate market and this should be an even better year with plenty of discounted homes out there luring those contemplating buying a home with low mortgage rates and pent up demand adding and additional boost.
However, while there may be more buyers out house hunting this summer there have also been many homeowners who have been holding their homes off the market as well as a recent surge foreclosure filings and those who have finally given up waiting on a government bailout that works for them, all which will add to the competition for those selling a home this summer.
With many schools getting out as early as the end of May this year the buying frenzy could start earlier than anticipated. This means little time for those selling a home to spruce up their properties and spread the word before buyers make their picks.
However, distressed homeowners need to be careful about spending too much on selling a home. Many are afraid to work with real estate agents due to the added cost but the marketing and cleanup it can take to make a home stand out can add up quickly too. Many lenders won’t loan on homes with certain defects but if it come down to a choice between keeping the lights on and fixing up a property, advertising your home in the local paper and throwing a proper open house then it may be wiser to find a cash buyer who will take it in its current condition.