Keep your cool this summer in a hot real estate market

Here in the United States, we have just experienced the hottest June on record. Areas such as the Pacific Northwest have experienced unprecedented heatwaves, and there have been many deaths attributed to overheating (hyperthermia). Although older adults are more vulnerable, anyone exposed to extreme heat can get sick, especially those having certain risk factors: sunburn, certain medications, obesity and how acclimated a person is to hot weather, and more.

There are a few things you can do to minimize your heat gain and maximize your heat loss:

  • Stay hydrated
  • Stay out of the sun
  • Wear light or as little clothing as possible so sweat can evaporate from your skin
  • Avoid heat churning activities
  • Immerse your hands in cool water

We’ve also recently experienced one of the hottest real estate markets in memory, with some markets seeing as much as a twenty percent rise in home prices. As an investor, you may want to consider reviewing insurance values in your current portfolio. In a recent article for RE Journal, Mark Gannaway of Arcana Insurance Services writes, “If you have not reviewed your insurance values in your current portfolio in the last six months, you are probably underinsured and will not meet the 80% requirement to have replacement cost on your properties.”

Amid the summer heatwave and hot real estate markets, keep your cool by taking precautions: with yourself and your real estate investments.

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