Am I talking about the weather or the real estate market? This year it could be either one.
Let’s start with the weather. In my opinion it’s never too hot! I just have to think about winter, and immediately the heat and humidity feel delightful. I didn’t even need to book a flight to get the island weather!
Moving on, let’s talk real estate… (pun intended). This year so far has been a tough market if you are trying to buy a home. Multiple offers have been the norm, and sadly missing out has happened too many times to too many buyers. Sellers are even hesitating to put their homes on the market… what can they buy? will their home be worth more if they hold on another month – 2 months – or more?
The ‘experts’ all have opinions on where the market is going. Some suggest 2017 will be an even hotter market than 2016, and yet others are still talking about the balloon that’s going to break and spiral us all into a quagmire of overpriced homes. The government keeps suggesting they need to intervene in order to slow our ‘out of control’ market.
Experience tells us that the market will correct itself. There are many reasons why people move, and they can only put it off so long. New jobs, adding to the family, retirement, divorces, to name a few. Sooner or later, sellers will decide they are not waiting any longer, and more houses will come on the market. Prices likely won’t decrease, as there are a lot of buyers waiting to absorb the available properties.
As a seller, if you are thinking about selling, now is a great time. It is a strong seller’s market, and summer sometimes sees fewer homes being put on the market.
Either way you look at it, this summer is HOT! Make sure you are part of it. Enjoy the weather, and good luck if you are trying to buy a home.
If you are looking for a great agent to help you, look no further than Coldwell Banker Community Professionals. Call us today to see how we can help you.