June 12, 2024 . For Homebuyers and Homesellers
June Jumps: Insider Insights for Buyers and Sellers in the Hot Real Estate Market
June marks a vibrant period in the housing market, characterized by an increase in buying and selling activity. If you’re planning a move this month, here’s a comprehensive guide to help you navigate the market effectively.
Tips for Homebuyers This June
The end of the school year often prompts families with children to relocate, making late spring and early summer a peak time for home purchases. Whether or not this is your situation, be prepared for heightened competition among buyers. The good news is that you’ll likely encounter a larger selection of homes as more sellers list their properties.
As noted by Bankrate:
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“Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”
Given the competitive landscape, partnering with a knowledgeable real estate agent is essential. Your agent can provide timely updates on new listings, advise you on crafting compelling offers, and offer insights into the true market value of homes, ensuring you make well-informed decisions.
Forbes underscores this point:
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“Approaching the market confidently, armed with good information and grounded expectations will take you far. Don’t let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”
Tips For Homesellers This June
For sellers, the influx of buyers during this time of year can be advantageous. Many prospective buyers are eager to finalize their purchases before the new school year begins, often resulting in competitive offers. If your home is appealing and priced appropriately, you may find it sells more quickly or at a higher price.
According to the National Association of Realtors (NAR):
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“Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”
A skilled real estate agent can be invaluable in handling offer contingencies and negotiations. It’s important to discuss potential closing dates with your agent, as buyers’ timelines may vary depending on school schedules and their current housing arrangements.
U.S. News Real Estate highlights the importance of flexibility:
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“. . . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”
Key Takeaways
Whether you’re buying or selling a home this June, consulting with a real estate agent will equip you with the necessary knowledge and strategies to thrive in a busy market. Proper preparation and expert guidance can make your real estate experience both successful and satisfying. What are you waiting for? Call or text us now at 706-765-7441 or visit Athensgahomes.com!
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