Get ready to watch many “For Sale” signs come down on the Island in the coming August and September months, but don’t expect to see much activity on the buying side of the real estate equation. Traditionally, these next two months are the year’s slowest for getting a home under contract or for renting an investment property. This is the time, after all, when children return to school and when vacationers are most likely to forego the Island during the rainiest season. Some 30 properties are expected to close between August 1 and Sept. 30, but don’t forget that these have all been under contract for at least 30 days, and most likely for over 120. That’s why I like to advise sellers and rental property owners to use this time of year to prepare their homes for the season ahead.
The weather is a bit too chancy to consider painting the outside of your home, but on the inside, it’s the best time to improve your chances of selling later by repainting, recarpeting, remodeling or refreshing your home now. Most likely, there won’t be many showing appointments being made until November, when thoughts of Thanksgiving permeate the air and when our European visitors yearn for the appearance of the sun. Take the time now to polish your property as much as possible. Besides, doing projects around the house will keep you occupied and your mind won’t focus on the slow real estate market.
Spring cleaning in the Fall: That’s as good as Christmas in July!