Are there back to school deals in real estate?

As summer winds down and families prepare for the upcoming school year, August normally signals the end of real estate’s busiest season. Here in Southern California, there are still deals to be had for buyers who didn’t close on a home during the summer. 

While sellers are not seeing a lot of competition yet, homes are still falling out of escrow at a higher rate than earlier this year due to growing uncertainty and pessimism regarding the market (and oftentimes buyer’s remorse after acting too quickly). Still, trying to sell a home before winter approaches remains a good strategy, and right now there are more buyers than homes on the market, which is a positive for anyone trying to sell a property.

Buyers seeking deals might benefit right now because many others are waiting on the sidelines. For one thing, interest rates have dropped steadily for the past few weeks, from a high of 5.81% to below 5%, sparking increased activity in refinances and home purchases. In this market, it is especially important to rely on trusted and experienced agents to get the best deal regardless of budget. Please feel free to contact us with any real estate questions you may have and thoroughly enjoy the rest of your summer.