Summer is moving season and with real estate prices improving, listings are spending less time on the market. HMS National, the real estate home warranty leader, recommends buyers take steps to protect their investment and offset expensive repair and replacement costs that may occur any time after move in.
Summer is moving season, when families are most likely to relocate - for work, school or just to move up to a nicer home. This summer may be especially busy. With real estate prices improving, listings are selling faster – a good thing for sellers. For buyers, however, competition is stiff and new listings are receiving multiple offers, often above the asking price.
According to the recent REAL Trends Real Estate Housing Report, the rate of housing sales had its strongest month of the year in April, growing 16.2 percent over April 2012. And the average price of homes sold increased by 7.9% over the previous year. This marked the 13th consecutive month of rising home sale prices.
“It’s very encouraging to see signs that the market is improving, but that also means that buyers will likely pay more due to higher demand,” said Doug Stein, President of HMS National, the real estate home warranty leader.
Stein recommends that buyers take steps to protect their investment and offset expensive repair and replacement costs that may occur any time after move in. He added: “Unforeseen breakdowns in household appliances, home heating or air conditioning systems happen when least expected, and they are costly. A home warranty is a smart solution to offset these expenses, especially because they are not covered by homeowner’s insurance.”
Many homes on the market right now are among those with older appliances and home systems. In recent years, because of the down economy, homeowners were less likely to have cash available to replace a major appliance or system. And that makes it even more important this summer for buyers to protect themselves against unexpected expenses by making sure they have a home warranty.
Moving is stressful enough; new homeowners don't need more stress after they get into a new house. A home warranty provides the peace of mind to help assure that once you've made the move, you'll be able to relax and enjoy your new home.