I’m not sure about you, but I can’t believe that summer is already quickly coming to a close. August was a whirlwind of school supplies, backpack packing (and repacking), schedule comparisons, and then the first week of school which is always a bit stressful. For us, it meant sending two off to middle school, one rounding out her last year and another just starting. It also meant starting all over again with a TKer! Besides marking the end of sleeping in (and staying up late), warm summer nights, pool parties, and drinks with umbrellas in them, the start of school means that fall and winter will soon be upon us. OK, so maybe we still have some time until winter (like almost 4 months!), but there are some important implications that the latter months of the year have on #realestate.
What does the cold have anything to do with #realestate? Generally speaking, as people prepare for the holidays and try to stay inside where it’s warm, real estate inventory drops. People prefer to be settled by August so that their kids can start school on time especially if they are coming into a new school district. What does this mean for you? People whose homes are on the market during the latter part of the year truly need to sell. Why else would anyone invite strangers into their homes for open houses and try to negotiate real estate contracts when trying to prepare for holiday feasts? This tends to be the best time for buyers and investors to pick up properties without the craziness of summer prices and the competition of eager parents. Our most successful investors have gotten steals on properties that were sitting on the market during the months of November and December. If you’re a flipper, it means that you can have a home flipped and ready just in time for when real estate starts to pick up again - the weekend after Super Bowl. So, if you're looking for your next investment opportunity, run (don't walk) to your nearest Starbucks then hit us up so we can discuss your options over Pumpkin Spiced Lattes (sugar-free, non-fat with whipped cream, of course).
Let's connect. We offer consultations including a comprehensive plan to help you reach your goals whether that’s first time ownership, up/downsizing, relocating, or investing. For other pro-tips or just overall questions about real estate, contact us: info@truinvestrealestate.com.
In Other News - Quick Facts:
#Foreclosure Starts to Increase in July with Los Angeles going up 20% and San Francisco going up 10% from July 2017
#California Median Home Prices: July 2018
California: $591,460
California highest median home price by region/county: San Francisco, $1,650,000
California lowest median home price by region/county: Lassen, $185,000
#Mortgage Rates: Week ending 8/16/18
30-year fixed: 4.53% (fees/points: 0.5%)
15-year fixed: 4.01% (fees/points: 0.5%)
