Sell before August if possible
Burlingame, CA (Vocus/PRWEB) May 06, 2011
In a prior press release, Burlingame Real Estate Agent Wayne Gomes explained that the month of May has historically produced the best sales prices in a calendar year. So how are the summer months regarding sales prices? He says that when selling a home, apartment building, or investment property, the earlier in the summer, the better the price for sellers. Gomes says summer is a time of lots of distractions, such as great weather, vacations, and parents focusing on keeping kids busy while they’re on summer break.
“Sell before August if possible,” urges Gomes. “June and July are better months to sell your home, apartment building, commercial real estate or any investment property.”
By the time August comes along, buyers are not only preoccupied with summer activities, but also what also with planning back-to-school time for their kids. They can get so busy with college scouting trips and getting all the supplies kids need for school, they don’t have time for house hunting. Because of this, explains Gomes, “August has the reputation of being very slow for sellers regarding sales and prices.”
A report by the S&P/Case-Shiller Indices, widely regarded as the most trusted measurement of home prices, concurrs with Gomes’ analysis. They noted, “Single-family home prices (particularly the month-to-month percent changes) follow a seasonal pattern since they are largely occupied by families with children. Home buying patterns typically revolve around the school year, with the belief that new home buyers want to be settled in their homes when the school year begins each September, thus boosting relative demand for home purchases in the spring/summer months.”
S&P/Case-Shiller data for Bay Area home sales last summer found a 3% increase in June, a 5% increase in July,.and then a 3% decrease in August, according to custom data collected by redfin.com.
This late-summer slow down in real estate applies not just to homes, but to investment properties as well. Investors have a hard time trying to focus on finding real estate opportunities because they’re busy with all those August activities, just like everyone else.
Gomes urges people planning to sell homes or investment properties to get started immediately, before the seasonal market slowdown starts.
For precise information about the summer selling months, or inquiries regarding selling a home, apartment building or investment property, contact Wayne Gomes - Broker Associate at Coldwell Banker at 650-558-4318. To learn more about Gomes and his expertise, visit his website at waynegomes.com or connect on Facebook at http://www.facebook.com/waynegomes2.
About Burlingame Real Estate Agent Wayne Gomes
With over thirty years of experience under his belt, Wayne Gomes has learned the ins and outs of real estate after successfully selling homes, condos, apartment buildings and commercial real estate, which include retail and industrial properties, since 1978. Located in the heart of Burlingame, Wayne helps people buy and sell real estate in Burlingame, San Bruno, Millbrae, and all other Peninsula communities ranging from San Francisco to Redwood City.