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Summer Is The Time For Sales
Saturday, June 4, 2011
The new mantra amongst homeowners is, "sell my home fast
." With the economy doing what it is doing and uncertainty the only certainty in the housing market people want to be able to move on with their lives. Buyers are much more scarce on the ground and financing is tighter so sellers are becoming anxious. This anxiety is translating into a summer clearance sale mentality amongst realtors representing sellers.
With the huge numbers of homes on the market sellers are more than ever having to compete with each other for the limited number of buyers out there. Many potential purchasers of homes are opting to rent instead so as to wait out the volatile economy. Fear of losing a job is a real problem when unemployment is running near nine per cent. When people are afraid their jobs are not secure they are not as amenable to the idea of taking on a large debt burden such as a house.
Traditionally spring is the time when young families start to look to move, hoping to complete the transition to a new home before the kids have to go back to school. By summertime the selling season is just about over and sellers will become more and more anxious. This is the time when there may be a summer clearance sale in the housing markets. Home sellers begin to panic and tell their realtors, "sell my home fast
." Just sell it. Get me out from under.”
Summer is also the time when a new wave of distressed properties is liable to hit the already bloated housing inventories around the country. Homes that were already on the market will have even more competition for the limited buying public. The only way to attract the attention of these buyers is to have a very attractive offering price: summer clearance sale.
The economy is looking up and jobs are becoming less scarce but the housing market is still over stocked. New and older homes are just coming onto the market much too quickly to be quickly bought. This means that sellers have long waits from the time they offer their houses and the time the houses are sold. After a few months desperate sellers are willing to take drastic cuts in their offering price just to get some action. No one is sure when things will be looking up for the housing market. The time is now for everyone to take a deep breath and face the reality of real estate: Summer Clearance Sales are here.