So you've decided to sell your home in 2015, but everyone you talk to about it is telling you to wait until the spring time to take advantage of the spring market. After all, wouldn’t it be better to sell in a busy market rather than through the quieter winter months?
Here are some great reasons why you should be selling your house now instead of waiting for the spring.
Homes are sold 365 days a year, period! Many homeowners believe that buyers aren't out there during the winter months. This simply is not the case. Serious buyers are always out there and will continue to look for a home, no matter what time of year it is. Not listing your house now means you’re losing out on potential buyers who are looking to buy a home right away.
Waiting until spring means more competition - for you! With less people putting their homes up for sale you'll have more of an advantage selling it now. Fewer houses on the market, means less competition for you. Instead of waiting until spring when more listings means more competition for the houses for sale, list yours now and have the buyers competing for your home instead. Winter is the time of less inventory, meaning you'll usually get closer to asking price. When you're selling your home in the spring rush your property can get lost in the crowd quite easily. With less competition in the listings, your home can stand on its own and be judged on its own merits. If your home looks great it should sell quite fast.
It's serious buyers that are looking for a home at this time of year. Businesses and companies either expand their workforce or relocate their employees at this time of year. Those moving due to job circumstances need a home now. Waiting until spring will bring out the casual buyers that are just "thinking about it". For some, open houses and home tours are just a way to to pass a day. Buyers who are braving bad weather are much more serious. You'll waste a lot less time to with the serious buyers. Most of these highly motivated buyers will start their search online. If your home isn’t listed, it’s out of the running for a possible quick sale at a premium price.
Mortgage rates are low. If you've read about real estate in the past year, it's likely you've read that the mortgage rates are very low. You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes. If mortgage rates increase while you're waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace! Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.
Quicker transactions occur during the winter months. Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do. All of these factors should lead to a quicker transaction and closing for all the parties involved. One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.
Winter is the best time to find a skilled, dedicated real estate agent. A real estate agent that is listing and selling homes during the winter is dedicated, hard working, and savvy to the trends of the market. Isn't this the type of agent that you want working for you? Sure, you can wait for other agents to come out of hibernation, but you won't necessarily be getting an agent that will get the job done. With the online shift that is occurring in the real estate industry, marketing a home has become sophisticated and it requires a skilled, professional marketing strategy. Those agents that work all year long know this and are current on what works and what doesn't when marketing a home. Listing your home for sale now ensures that you'll be working with one of those agents.
Ready to sell your home now? Sit down with a reputable real estate agent and get the process started, sooner than later. If you're in the Capital District area of New York State connect with me and we'll get it done!
Submitted by: Jaymie Denny, Coldwell Banker Prime Properties, 518-610-5428