What a slower market means

August (and late July) tend to bring a natural slowdown in the market (thanks to the triple hit of summer heat, back-to-school prep, and last-minute travel plans). Homes sit a little longer, buyers take their time, and many sellers hold off until after Labor Day. The good news? I expect activity to pick up quickly this fall, especially with interest rates sitting at their lowest point of the year.

Right now, for buyers, this can be a golden opportunity: with less competition, you may have more room to negotiate and more time to think before making an offer. For sellers, it’s a reminder to price strategically, stage thoughtfully, and make sure your home stands out while buyers have their pick.

Be sure to check out Porch Points below and find your August to-do, home maintenance reminder!

Is it about time to refinance?? 

With rates dipping to their lowest point of the year, now might be the perfect time to explore refinancing. A lower rate could reduce your monthly payment, shorten your loan term, or free up cash for renovations or investments.

To make it happen, you’ll want to review your credit score, know your current loan balance, and have a clear idea of your home’s value. Lenders will also look at your debt-to-income ratio, so paying down other debts can help you qualify for the best terms. Refinancing isn’t free, so be sure to calculate your break-even point to confirm it’s worth it. Reach out to your lender, or shoot me a message!

AUGUST MAINTENANCE:

• Replace Furnace Filter (every 3 months)
  You’ll thank yourself when the furnace kicks back on in fall and you’re not circulating dust.
  Pro Tip: Label each filter box with the installation date for some simple accountability. Also - lower MERV ratings may help increase efficiency as your HVAC doesn’t require as much pressure to filter through it. Find the balance there!

• Check Caulking Around Windows & Doors
  Even small gaps can let in drafts and pests, or contribute to wood rot. A quick bead of caulk can save you money and headaches.
  Pro Tip: Silicone-based caulk is best (look for “exterior-use” labels) - you may even be able to get close to your paint color, too!