Many buyers and sellers in the Naples, Bonita Springs and Marco Island real estate markets think that our activity is just seasonal. The truth is that we do just as much real business during the summer months as during “season”. There are advantages to the buyers pulling the trigger this June, July and August.
Here are the Top Ten reasons to be on a mission for buying this summer:
1.) As a buyer, you are able to negotiate a better deal during the summer. Most likely, a seller who is currently listed in the MLS was on the market for sale during the high season but was not successful in selling. If a seller is on the market during the summer, it is more likely that he/she is motivated to make it happen. As a rule, the seller does not want to wait until next season comes around. A motivated buyer and a motivated seller can usually make a mutually beneficial agreement on price and terms.
2.) Take advantage of price reductions. Typically, when a seller has not closed a deal by April or May you can expect some adjustment in the asking price of the property. It is not unusual for a seller to feel bold during season when there is a lot of activity. But, many times that activity was because there are more people in town including less serious lookers who were not ready to take action.
3.) Much better access to see properties on the market for sale. As a buyer, it is much easier to see all of the homes on the market during the summer months. Many times access is difficult, if not impossible, to view homes and condos for sale during season because they are owner occupied or tenant occupied. Although the properties appear to be for sale in the MLS system, it can be challenging to actually see the inside without cooperation from the occupants. During the summer, a lot of properties are vacant and much easier to make showing appointments.
4.) Ample inventory on the market for excellent choices. At this moment in time, there is plenty of inventory to provide options for you, the buyer. Having options is a good thing and makes for better negotiation. If things get stalled on contract negotiations with one property, you have the option to move forward with a second or third choice that are every bit as good as the first one.
5.) Sellers that come on the market for sale during the summer are serious. It would not typically be the seller’s first choice to come new on the market during the summer. If a seller comes on the market during June, July or August it would mean that there is a compelling reason to sell now. Take advantage of this opportunity.
6.) Less traffic, less people and easier to get around. The pace is even more relaxed during the summer. You are not competing for space on Route 41 while driving around or waiting to get into a restaurant and, more importantly, you are not competing with a lot of other buyers in the marketplace.
7.) Easier on the wallet, too. Hotel rates are lower, airline travel is less expensive, golf is cheaper, shops and boutiques have sales and restaurants run summertime specials.
8.) More daylight for looking at homes and enjoying other activities. With more daylight hours, we can cover a lot of territory and see a lot of homes while we have plenty of light and still have time for fun, relaxation, play, the beach and sunset celebrations.
9.) Summer months are the time to have work done. If your choice of property needs work, then the off season months are the time to hire contractors as they have more availability and their proposals are more reasonable. In the case of condos, it is typical that the off season months are the only time you are allowed to do significant remodeling and renovation. Condominiums have rules and regulations prohibiting contractors from making noise and dust during the high season.
10.) Right now interest rates are historically low. It is very attractive to take advantage of the current interest rate for mortgage money even if you have the ability to pay cash. Rates are very low to borrow against your asset portfolio, too. Why not keep the cash working for you and borrow to make the purchase?
We can dedicate the time to making your real estate trip successful. With some advance notice, we can block off successive days for you to make sure that you are “educated” and feel totally comfortable in making the right decision. When you are on a mission to make it happen and we devote uninterrupted time to your goals, we are all able to concentrate and focus on that mission. Often, the first outing is an “educational” tour with the next couple of days whittling things down to the “short list”.
If you are a serious buyer who wants to negotiate the best price and terms, take advantage of the opportunities this summer. Call us or send an email and let’s make it happen!
As full time real estate professionals, we represent both buyers and sellers in Naples. If you are a seller, we market your home to local, national and international buyers for the best results. If you are a buyer, we listen well and will find your own “Piece of Paradise” at the best negotiated price and terms.
Tim Cranch at 239-272-4848 Ellie Penaranda at 239-776-5077