These are the perfect tips to buying a home in June

  The Positives and negatives of Buying a Home in June: Is It the Right Time for You?   Buying a home is a major life moment, bringing a mix of excitement and uncertainty. The timing of your home purchase can significantly affect various aspects of the process, including home types available and pricing. June is a particularly popular month for homebuyers, offering both pros and cons.  Let’s dive into the pros and cons of purchasing a home in June to help you decide if it’s time to give me a call !     The Pros of Buying a Home in June   More Inventory June falls within the prime spring and early summer home-buying season, leading to an increase of new listings. Many sellers aim to close their deals by summer’s end, coinciding with the school year’s conclusion.  Did you know that June 30 is the busiest closing day of the whole year ! This results in more homes on the market, giving you a wider selection to choose from and a better chance of finding a property that meets your needs. Ideal Weather Conditions ….most of the time ! June’s warm weather makes it an excellent time for hunting for a home. You can comfortably explore neighbourhoods, attend open houses, and inspect properties without dealing with winter’s snow or spring’s rain. The good weather also allows you to evaluate the condition of the home’s outside, landscaping, and overall the look of the exterior of the home. Extended Daylight Hours The longer days of June provide more daylight hours for the hunt for a new home. This means you can fit more property visits into your schedule, especially after work, without having to rush. The extended daylight can be particularly beneficial for those with busy lives as there is more sun to shine on your new place. Attractive Mortgage Rates Historically, mortgage rates in June tend to be a bit more inline. Although rates fluctuate based on the broader economic climate, June often sees lenders offering attractive rates to draw in the increase of buyers. Securing a lower interest rate can result in substantial savings over the life of your mortgage. This is a win ! Smooth School Transitions For families with children, moving in June allows for a smoother transition before the new school year begins. This timing gives children a chance to adjust to their new neighbourhood making the move less stressful and easing the process of enrolling in the new location. Seasonal Discounts Many moving companies and home improvement stores offer special promotions and discounts in June to attract buyers. Taking advantage of these promotions can help lower the overall cost of your move and the expenses associated with setting up your new home.     The Downfalls  of Buying a Home in June   Increased Competition The popularity of June means more people are in the market, leading to heightened competition for desirable properties. This can result in competing offers, driving up home prices. To secure your preferred home, you may need to act quickly and be prepared to offer above the asking price. For more information on this, call me and I can assist you in the strategy.   Potential Overpricing With the increased demand, some sellers may price their homes higher, taking advantage of the market. This can mean paying top costs compared to other times of the year. It’s crucial to work with a knowledgeable real estate agent who can help you determine fair market values and negotiate well.   Fast-Moving Market The fast-paced June market can be a bit stressful. Homes often receive multiple offers shortly after listing, leaving little time for thorough decision-making. This urgency can lead to rushed decisions and potential regrets if you don’t carefully navigate the market.   Moving Logistics Challenges June’s popularity for moving means that moving companies can be quite booked. Booking a reliable mover might require advance planning, and prices for moving services could be higher due to increased demand. Additionally, scheduling convenient moving dates might be more challenging.  It’s always cheaper to move during the week !   Limited Negotiation Power In a competitive June market, sellers are likely to receive multiple offers, limiting your ability to negotiate on price and terms. Sellers may be less inclined to make concessions, and you might need to waive certain contingencies to make your offer stand out.   Tips for Navigating the June Homebuying Market   Get Pre-Approved Secure mortgage pre-approval before you start house hunting. This shows sellers that you are a serious buyer and helps you set a clear budget.   Partner with an Experienced Agent Work with a real estate agent who has extensive knowledge of the local market. They can help you find good deals and navigate bidding wars.   Be Ready to Move Quickly Homes can sell fast in June. Be prepared to make swift decisions, but ensure you’ve done your research and feel comfortable with your choice.   Know Your Must-Haves Identify your non-negotiables versus what you can compromise on. This clarity will help you make faster decisions without second-guessing.   Craft a Competitive Offer Be ready to offer a competitive price and consider additional incentives like flexible closing dates or a larger earnest money deposit to make your offer more attractive     Conclusion Buying a home in June has its unique set of advantages and disadvantages.  The increased inventory and favuorable weather make it a perfect time for many buyers, but the intense competition and potential for higher prices require careful navigation.   By understanding these dynamics and preparing accordingly, you can successfully navigate the June housing market and find the home that best suits you and your family.   Remember, thorough preparation and the support of an experienced real estate professional are essential for a successful home purchase. Happy hunting ! If you would like to book a discovery call with me be sure to click the link !  https://stan.store/kimaveryrealestate  

Do you have enough Equity to do a renovation or buy a Vacation home ?

Why get a Comparative Market Analysis and What is it ? If you own your home, you need a CMA, or Comparative Market Analysis, every year. A CMA will offer you a good understanding and picture of how your home stacks up to other recently sold comparable properties located nearby. This is especially important in the current competitive real estate market, you may be very happy and surprised when you learn how much value your home has gained.   Having equity is a good thing !!!  There are two main reasons a homeowner should get a CMA. First, it will show you what’s happening in the city of your real estate market by telling you what comparable homes in your area are selling for, and we will be able to determine a listing price for your home.  Second, if your’e considering a renovation, a CMA may shed light on the newer amenities that are popular in your area, as well as those that add long-term value to your house.  Keep in mind that a thorough CMA isn’t designed to take the place of an appraisal, which can only be performed by a licensed appraiser. CMAs have no legal or financial standing; they are just used as a helpful snapshot. I would be happy to send you a complimentary market analysis of your so that you can stay on top of your value and be ready for making decisions in the future.  Thinking of moving to Calgary from the Columbia Valley ? Maybe the equity in your home can help you do just that ? Thinking of buying an investment property in Lake Windermere, BC ? The equity that you may find from having a Market Evaluation may allow you to do just that. Click the link below to book a 1:1 with Kim https://stan.store/kimaveryrealestate/p/book-a-11-zoom-with-kim-

Monthly Statistics Package for March, 2024

Apr 1, 2024 March reflects strong seller's market and price increases By CREB® March sales rose to 2,664 units, a 10 per cent year-over-year gain and much higher than long-term trends. While new listings did pick up over last month, the 3,172 units were still below what we typically see in March and not enough relative to sales to drive any change in the supply situation. In March, the sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month. "We have not seen March conditions this tight since 2006, which is also the last time we reported high levels of interprovincial migration and a months-of-supply below one month," said Ann-Marie Lurie, Chief Economist at CREB®. “Moreover, we are entering the third consecutive year of a market favouring the seller as the two-year spike in migration has driven up demand and contributed to the drop in re-sale and rental supply. Given supply adjustments take time, it is not a surprise that we continue to see upward pressure on home prices. Inventory levels have declined across properties priced below $1,000,000, with the steepest declines occurring for homes priced below $500,000. In March, there were 2,532 units in inventory, 22 per cent lower than last year and half the levels we traditionally see in March. In March, the unadjusted total residential benchmark price rose to $597,600, a two per cent gain over last month and nearly 11 per cent higher than last year. Prices have increased across all property types, with the most significant year-over-year gains occurring for the relatively more affordable row and apartment-style homes.       https://heyzine.com/flip-book/256beec772.html

Market Statistics for The City of Calgary for February 2024