Summertime, and the dealing is easier

As the kids start to go back to school, the Halloween decorations are already up in some stores, sometimes on the aisle next to the school supplies.

Summer is quickly winding down, which means now’s the time to hop into the market if you plan to buy or sell a home before the end of the year.

The number of homes for sale in our four-county region is 7% higher this year. Pair that with a recent drop in interest rates, and you’ve got an attractive equation that might work well for buyers. You just have to find the time to make it happen.

To get started, update your financial paperwork – pay stubs, tax returns and bank statements – and make sure you know your current credit score.

Review how much money you have on hand for your down payment and closing costs. You can probably use your mobile banking app, credit score app and mortgage calculator app while sitting poolside sipping your favorite summer beverage.

Low mortgage rates create opportunities for sellers, too.

Make an inventory of everything you can and will do before you put your house up for sale.

At the risk of sounding like a broken record, that list should start with decluttering, may include some upgrades to make your house more relevant to today’s fashion, and might end with staging to make your house look more like a model home.

Then, make a schedule, working in your home prep tasks in between your pool parties, BBQs, and back-to-school shopping.

If you’re motivated, you’ll find a way to fit all this extra activity into your busy summertime schedule.

So what is fueling the motivation to sell and buy in today’s market?

Historically low mortgage interest rates are a pretty powerful motivator for many people. Right-sizing is another motivator, whether you’re ready for something larger or smaller.

And many baby boomers are ready to retire. Buying, selling and, more likely, both are a part of their plan for their next big adventure.

Cashing in on the long-running recovery in home values is another motivator. And some people are even banking on a bubble, moving their home equity into cash and joining the ranks of renters to ride out a downturn, should home values fall.

Whatever your motivation, it will add to your list of things to do. It will add to your stress level. It will cost money. It will force you to think things through.

Sellers, you will be subject to the scrutiny of HGTV binge-watching buyers looking for you to have done everything they could possibly want or imagine having.

Buyers, you’ll be under the underwriter’s microscope, expected to deliver detailed financial documents, and perhaps explanations for detailed items from your credit history in a very rapid manner.

All the more reason to make sure you have those apps on your phone to use while you’re at the pool.

Leslie Sargent Eskildsen is an agent with Realty One Group. She can be reached at 949-678-3373 or leslie@leslieeskildsen.com.

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