The summer advantage when buying a home

Summer presents an ideal time for prospective buyers to purchase a home. The warm weather and longer days create optimal conditions for house hunting and moving, allowing buyers to thoroughly inspect properties and envision their future homes in the best light.

One of the primary advantages of summer home buying is the increased inventory available. Inventory is up almost 20% as of March this year compared to 2024.  Many sellers choose to list their properties during this season, providing buyers with a wider selection of homes to choose from and increasing the likelihood of finding a property that meets their specific needs and preferences.

The competitive nature of the summer real estate market can also work in buyers' favor. With more homes on the market, sellers often price their properties competitively to attract potential buyers quickly, potentially leading to better deals or more room for negotiation.

Families with school-aged children find summer particularly convenient for relocating. The break between academic years allows for a smoother transition, giving children time to adjust to their new surroundings before starting school in a new district.

Summer's favorable weather conditions make it easier to evaluate a home's exterior features, such as the roof, siding, and landscaping. Additionally, buyers can thoroughly assess outdoor amenities like pools, patios, and gardens, which are often showcased at their best during this season.

Real estate professionals tend to be more readily available during the summer months due to increased market activity. Buyers can expect prompt assistance from agents, mortgage lenders, and home inspectors, facilitating a smoother and more efficient home buying process.

For those selling a home while simultaneously purchasing a new one, summer offers advantages on both fronts. The increased buyer activity during this season can lead to faster sales of existing properties, potentially aligning well with the timeline for purchasing a new home.

While summer home buying does come with some challenges, such as potentially higher prices and increased competition, the benefits often outweigh the drawbacks. The combination of ample inventory, favorable weather, and convenient timing makes summer an opportune season for those looking to make their homeownership dreams a reality.

By leveraging these benefits and working with experienced professionals, buyers can navigate the summer real estate market with confidence and find their ideal home.  Download our Homeownership Today guide as well as our Buyers Guide.

Wire Fraud Schemes Targeting Real Estate Closings

Real estate transactions often involve significant sums of money, making them a prime target for sophisticated wire fraud schemes. Buyers, especially those preparing for closing, should be aware of these scams and take proactive measures to protect their hard-earned funds. Here's how the scam typically unfolds and how to avoid becoming a victim.

How Wire Fraud Schemes Work

Scammers usually begin by gaining unauthorized access to the email accounts which is often achieved through phishing emails that trick recipients into sharing login credentials. Once inside, scammers monitor email exchanges to gather information about pending transactions, including closing dates, amounts due, and parties involved.

As the closing date approaches, the scammers strike. They send an email to the buyer, posing as a trusted party in the transaction. The email includes updated wire transfer instructions, directing the buyer to send funds to an account controlled by the scammer. These emails often appear legitimate, complete with real names, logos, and details specific to the transaction. To add pressure, scammers may emphasize urgency, warning that delays could jeopardize the closing.

If the buyer follows the fraudulent instructions, the funds are transferred to the scammer's account�often overseas�making recovery extremely difficult, if not impossible.

How to Protect Yourself

While these scams are sophisticated, buyers can take several steps to safeguard their funds:

1. Verify Wire Instructions: Always verify wire transfer instructions by calling the title company or attorney using a known, trusted phone number. Never rely on contact information provided in an email.
2. Be Cautious with Email Communication: Avoid sending sensitive information, such as financial details, through email. Many real estate professionals offer secure communication portals�use them whenever possible.
3. Watch for Red Flags: Be suspicious of any last-minute changes to payment instructions or emails containing grammatical errors, typos, or unfamiliar sender addresses. Authentic emails from trusted parties will match their established communication style.
4. Confirm the Transaction: After wiring funds, contact the recipient immediately to confirm that the payment was received in the correct account.

Stay Vigilant

Wire fraud is a growing threat in real estate transactions, but awareness and caution can significantly reduce your risk. If something feels off, take the time to double-check before acting.

By remaining vigilant and verifying all instructions, buyers can protect themselves from devastating financial losses and ensure a smooth path to closing on their dream home.  Your agent can be helpful in verifying if the request is legitimate.