Real Estate questions asked by you, answered by local real estate expert Blake Harrington, of REmexico Real Estate Group
Q: What does a Seasonal Market mean for buyers and sellers?
A: Summer is now upon us in Los Cabos! Of course this means warmer temperatures, may- be a bit of rain, and for real estate, a bit of a slow market. That doesn’t mean that our market comes to a complete halt. In fact, this summer, we are expecting quite a bit of business.
Our advice to buyers is that there are still great deals to be had in the marketplace and getting a deal done in the summer may work strongly to their advantage. Why? Because when our high season returns in October, there may be a recovery underway and those moti- vated sellers may be less. Sellers are usually a bit more motivated in the summer as they see less tours because of the low season. Summer may be that perfect time to capitalize on a great deal.
For sellers, we advise them according to their specific and unique situation. If they are highly motivated to sell their home, we suggest offering bonuses to brokers if they bring a qual- ified buyer. Another strategy is to do consistent open houses with catering, ice cold drinks and refreshments. This has been successful in creat- ing more interest in a listing during summer. For some sellers, while still interested in selling, they prefer that we withdraw their property from the market and take a few months off before re-list- ing in the fall. This keeps “Days on Market” down and gives the sellers a chance to make any repairs or cosmetic upgrades that may help the house sell in the high season.
With our market showing signs of improve- ment, we expect a sizzling summer!