Top Tips and Top Dollars For Selling Your Property This Summer
There’s no better time to sell your property this summer. With high demand and tight supply, potential buyers will be looming over whatever you have to offer. In addition, with real estate in Punta Gorda and Bonita Springs, people are becoming attracted to their restored historic beauty and abundance of natural attractions. These are a few reasons why you should sell your property this summer.
Best Months to Purchase a House
The late summer months are the best months to buy a house. August is the perfect month to catch the low prices coming in for the fall. The peak for inventory falls between June and August. As a result, you may not have as much flexibility to negotiate the price compared to the fall and winter seasons.
Attractive Areas in Florida to Purchase
Lee County is southwest of Florida, with some of the best cities to live in and a promising future in the real estate industry. The atmosphere of Lee County is very laid-back and slow-paced. There is much diversity and excellent community culture.
- Lehigh Acres is a growing and diverse town. It has a rising population of over 131,000 with a $217,000 median home price. It has below-average unemployment and positive job growth. Compared to the rest of the country’s average, Lehigh Acres’ cost of living is about 4% lower. It is a great time to buy in Lehigh Acres. Home appreciation has been up about 19% in recent years, making real estate in Lehigh Acres a favorable option.
- Punta Gorda is a very suburban town with waterfront access. It has a rising population of over 20,000 people with a $314,000 median home price. Compared to the rest of the country’s average, Punta Gorda’s cost of living is about 3% lower. Home appreciation in the last ten years has been 6.7%.
- Bonita Springs is a welcoming beach community and is a great place to unwind and relax. It has a rising population of over 60,000 people with a $397,500 median home price. Compared to the rest of the country’s average, Bonita Springs’ cost of living is about 13% higher. Home appreciation in the last ten years has been 2.9%.
With a limit in inventory and strong demand, there becomes less competition. It takes, on average, six months to sell a property, but selling in the peak summer months can shed off two whole months. Many times, buyers are willing and ready to purchase quickly.
In most parts of the United States, there simply aren’t enough homes to fill the market needs, which puts sellers at an advantage. There are more potential interests in a single property. Don’t wait for more inventory to enter the market before listing your property to sell. Take advantage of the volatile buyers market this summer!
The closing process can feel like a drag and can be prolonged with complicated events and details to smooth out. With more loan applications, there can be a longer window than the average 45 days it usually takes to complete a home sale. More buyers are getting pre-approved for their mortgage financing, which speeds up the process and makes it a lot simpler.
Rising Interest Rates
Mortgage interest rates are rising. Moreover, they are forecasted to continue to increase even more shortly. For example, mortgage interest rates on 30-year fixed-rate loans climbed from 3.5% to 5.6%, and experts foresee it inclining even more. Several reasons could explain the cause of this, from the baby boomer generation staying in houses rather than moving to retirement communities to the conflict in Ukraine.
Higher Market Prices
House value is rising too! With rising mortgage interest rates, property prices become more expensive. Home prices have also steadily climbed about 20% from March 2021 to March 2022. Specific to Florida, the prices of homes have risen. All across the country, and since the pandemic shut down the world, remote work has become the norm. With this reality, employees aren’t tied to a specific location for their home base, which has traditionally been the case. Thus, many families are choosing to relocate to Florida.
How to Make Your House Market Ready
To beautify your house to put it in top tip shape for selling, make sure you get down to the details. You can trim and manicure the lawn, keep A/C running inside, showcase the outdoor living areas and space, bake some warm and delicious goodies, and put together a bouquet of fresh flowers. If needed, make minor repairs and updates to be in the best condition to get a higher offer. Of course, not all repairs are necessary, but they can give you an upper hand with negotiating.
Finally, make sure it leaves a good impression with a fresh and clean smell. You don’t want to have any musty smell that can indicate mold and mildew or a garbage smell that can indicate plumbing problems or poor overall maintenance. Clean and wash up what is needed, and keep any bay odor away. After all, what attracts people to move in the first place is to get a good, fresh, and clean start to a new beginning in their lives.
What are you waiting for? Whether you’re looking to upgrade your home or move on with the next phase of life, we suggest some introspection on why you’re selling your home. More than a list of reasons you can benefit from selling property, only you know the reason why you’re considering a sale. Think about what you value most in life and how this decision will affect that (or them).
The stars are aligning perfectly for property sellers this summer. This summer, selling your house with the real estate market in Lehigh Acres, Punta Gorda, and Bonita Spring may just be an opportunity you don’t want to miss. The benefits to selling this summer include a faster and easier process to sell, more people taking an interest in your property, and reasonable pricing. Contact Alec Salamah today if you want to get premium pricing for your property. As one of the leading Coldwell Banker Realtors in the Lee County area, you won’t be disappointed with any portion of the process. Make the easiest and most lucrative decision you could possibly make and call us today!