And Why It’s Underrated
It’s Spring in Colorado. So in writing you a post about the summer real estate market, we’re well aware that our great state could still have to trudge through three major snowstorms—in May, for all we know—before poolside season officially arrives.
But we also know that buying a home is one of life’s biggest decisions, whether it’s your very first or you’re moving from another. This leads us to confidently guess that you’re likely already thinking about when to make that move.
Now, summer gets a bad rep for being unfriendly to homebuyers. And while that can still hold true in some cases, there are a lot of benefits that may lose out on some shine. Here, we’ll walk you through a few of them.
Looking at a property during the summer versus the winter is a bit like looking at yourself in the mirror when you’re ready for a night out on the town versus the Monday morning after. Everything will look its best, and you can envision your home owning experience there at its most idyllic. This isn’t good or bad, it’s just something to be aware of.
That beautiful back porch will be inoperable for a solid chunk of the year, so don’t let it sway you (we had to) from an otherwise lackluster home. On the other hand, if you’re not happy with a home prospect in the summer, it’s very unlikely you’ll suddenly fall in love with it once you’re shoveling snow from its driveway. So that decision becomes much easier.
YOU, ANGEL INVESTOR, YOU
Sellers who listed in spring and haven’t had any luck will likely bring their prices down as temperatures heat up. If there’s a match between the home you’re looking for and the home they have to offer, you’ll make out like a bandit and they’ll love you for it.
Even if they haven’t reduced their prices, they may be a bit more amenable to bargaining down if they haven’t had a bite all spring.
Listing inventory tends to spike during the summer which benefits you in two ways.
First, it’s a bit easier to maintain leverage with stubborn sellers when everyone in the room knows you have four more open houses in your afternoon pipeline. Second—thanks to some law of probability by some famous mathematician— it’s just more likely you’ll find what you’re looking for.
We hope this clears up some misconceptions about summer being an all-around bad time to buy homes. While there are definite pros and cons about the season as far as real estate is concerned, we find that to be the case with winter, spring and fall as well. And, hey, if the market is really that bad, you can leave the jacket at home and make a nice afternoon of it all the same.
Now we just have to go back to waiting until summer actually gets here…
As always, we’re here to answer any questions you may have. Don’t hesitate to reach out at TravisT@saintaubynhomes.com for Colorado Springs inquiries and firstname.lastname@example.org for Northern Colorado inquiries.