Buying a Home in July – Portland Home Buyers
We are now half way through this year and the month of July and home prices have stabilized this summer but there are still a good amount of properties for sale.
Here’s what you need to know about buying a home in July in the Portland area.
July in Portland is usually hot although we do tend to have Indian Summers, where the season can last longer into September and October. July can be a toss up on whether it’s too warm or if it’s comfortable. Right now, we are seeing beautiful temperatures in the upper 70s and 80s but that can mean hot homes, especially if they are vacant. This heat can rush many home showings especially if the home has been baking in the sun for hours or days. Don’t let that dissuade your decision, however. If the home has AC, the owner may just not have the money to leave it going continuously if it’s vacant. If there is an open house, the listing agent should pop on the AC a couple hours before the showing but that is sometimes impossible if it’s a short notice showing.
If the home doesn’t have AC, this is a good way to know what the house will feel like in the summer. It’s way more noticeable in extreme temperatures, which goes for winter as well, although nearly every home has some sort of heating unit. Not every Portland home has AC so you will want to take that into consideration when choosing a home. When the weather is mellower out you may not notice whether the home will get hot or cold until the temperature changes drastically and by that point you may have already purchased. Considering the heating and cooling systems of a house is essential to being comfortable year round.
You may have competition. The Portland real estate market is doing well and you might be surprised to know that if you wait too long you could lose the home. Don’t wait too long to put in an offer… and make it a good offer. You may be competing with cash offers but even financing can work if you have a solid offer with minimal contingencies. Have a great buyer’s agent on your side can also help in this tight negotiating world.
Read more: Home Buying in an HOA
Homes may be quickly leaving the market. During the spring, many homeowners put their homes on the market but now that we are half way through summer, many of those hot homes have long since closed. Homeowners are now thinking into the school year when properties will close and may chose to wait to list. You might find that the inventory is waning and pickings are getting slimmer. Having your agent find the right home in the right price is taking a bit of a scavenger hunt so don’t assume that there are currently hundreds of homes that fit your criteria. You might be surprised.
Buying a home in July is not the worse time to consider since the weather is beautiful and you can really get a sense of what the home is destined to look like but waiting too much longer and you might miss out on a fabulous piece of real estate.