It’s that time of year when kids fill their backpacks and wave goodbye to Mom and Dad as they board the school bus or are dropped off in the carpool lane. Summer vacation for the most part is over. The last thing on most family’s minds is packing and moving.
Typically, when school starts, the housing market slows down, but with this tumultuous market, it is hard to predict. Many are still looking for homes in this seller’s market. If there is a lull, it will be short-lived. After Labor Day there is usually an uptick as it is the unofficial start of the fall season. Sellers and buyers will now want to buy and close quickly to get settled before the holiday season.
It is still a good time to sell as there is still a shortage of inventory. If you have a plan in mind as to where you’re going to live once your home sells. Many sellers have gotten creative.
Here are some possible solutions:
- Do you have rental property? Many sellers are moving into one of their rentals until they can find their next home
- Do you have vacation property? Same scenario.
- Move in with relatives.
- Find a short-term rental – Those who do have rental property who are willing to take a month-to-month lease situation are offering this alternative until the sellers can find their next home.
- I’ve even seen some move into their RV or houseboat until they find their next home. You might have to store your household belongings for a while, but if you do, consider using a pod, that way you don’t have to have a moving company move you twice.
- Buy before you sell. Some have taken their equity out of their current home and used it as a down payment on the new home.
- New Construction. When the new home is move-in ready, then you list yours.
In this area, the market is extremely hot, because of the great schools, which is great. The good news is homes bring a premium price tag. The bad news is, it makes buying a home in the school district you want a little challenging, but not impossible. Another reason you need a seasoned agent.
If you’re thinking about selling or buying, give me a call and let’s devise a plan that will work for you and your family.
The Dinsmore Team
Experience, Passion, and Commitment to Excellence!