Selling Your Home in the Winter...Should You Wait or Should You Sell?
It is common belief that spring is the best time to sell your home. After all that is when all the "serious home buyers are out"...right? Well not necessarily, the real estate market is relatively constant; people are always moving, wanting a new house, having more kids, having all their kids leave the nest, creating pretty much constant demand.
Before you decide to sit back and wait to put your house on the market in the spring, here are some important things to consider.
1) Home buying is an extremely emotional experience and what is better to bring out the essence of home than stockings hung from the chimney with care, a tastefully decorated fragrant tree, and the delightful smell of tasty baked goods (or at least candles that smell like them).
2) Homes show well when decorated. Think about it, what other time during the year does the average person put as much time and effort into getting their house and decorations to look great. The holiday season is a time of lots of get-togethers and many homes elude the feeling of tranquility during the winter months.
3) January is the most common job transfer month. People that are relocating to your area need to buy a home quickly and often can not afford to wait till the spring (unless they want to rent for a few months). These relocation buyers often buy quickly, which means less time you have to waste showing your home.
4) Tax incentives! Home buyers that close before the year is over receive tax benefits...and this is no secret. Having your home off the market during the winter season means you miss out on this group of buyers that are determined to buy before the end of the year.
5) Buyers have more time to look. Because of extended vacations, buyers have increased time to view homes and don’t' have to worry as much as missing work or school to search for their next home.
6) Winter buyers are serious! Tons of people "shop for homes in the spring," but many of these people are not serious home buyers. Just ask my Mom, she has been to 100s of spring/summer open houses over the past couple of years and has no intent to buy another home...she just looks for decoration ideas. While having your home on the market in the winter, may get you less showings, these buyers are MUCH more serious and buy quicker.
7) More attention for your home. Many real estate agents have a lower inventory during the winter and therefore will be able to focus more time into advertising and ultimately selling your home.
8) Lastly, if you are selling your current home, you are most likely in the market for a new home. As a winter home buyer you have much less buyer competition and more selection. Let me put this in terms of an analogy: Buying in the winter is like getting to go to a department store's "After Thanksgiving" sale, the day before and with only a few other shoppers- you get primo selection and don't have to worry about being run over by a rabid shopper's cart. Buying a home in the spring is like having to wait outside at 4 am in the freezing cold with 1000s of other people and having to fight others to get what you want. Think about it this way...when selling you are getting rid of your mortgage obligation. When buying you are entering into a mortgage contract for potentially 30 more years...therefore, even if you do have to sell your current house for a few $1000 less, you are most likely buying your new home for a few $1000 less also.
9) Mortgage rates are low right now...there is no telling what will happen to rates as we enter the spring/summer months. Take advantage of this as well as reasons #1-8 and contact Christine McInerney today so we can get your home on the market, sell it quickly, and get you a great deal on your next home!