Winter offers exceptional opportunities for sellers, so don’t allow your home to hibernate.
One of real estate’s most enduring mantras is If you want to list your house, you should wait out the winter season and pounce on the market in the spring.
The usual school of thought is that waiting to list your home in the spring market will reap the biggest reward, however, i do believe that winter offers a unique window of opportunity for the astute seller to jump ahead of the competition.
May i offer seven reasons why you shouldn’t wait until the ground has thawed enough to hammer in the For Sale sign.
Less inventory = more attention and focus on those properties listed.
There will be a limited supply of homes to buy at the start of the new year. However, that doesn’t mean there aren’t still potential buyers on the prowl. If your home is prepared effectively and has minimal competition, you’re likely to attract a lot more interest than in the spring when the market is saturated.
Also consider that If there’s a limited supply of desirable inventory and there is a plethora of buyers waiting on the sidelines, as a seller, you may experience multiple-offer situations and therefore achieve a greater price. Also when there are fewer options, home shoppers with unrealistic aspirations are more likely to flex their “must-have” list and approach your home with a more open-minded attitude.
First-quarter job relocations, especially with the impending political turnaround.
Companies usually plan to recruit and relocate their staff during the first quarter of the new year. Therefore, every winter, there is an assured populace that’s urgently searching for a new home and often this may involve a re-location package and that’s good news for the seller’s aspiration to achieve or exceed the asking price. The arrival of the new MGM may also provide an introduction of new buyers into our neighborhood.
A fully focused real estate agent.
Your real estate agent is less stretched in different directions during the winter months. Less clients means even greater motivation to move the properties they represent. They also have more time and capacity to focus on your cause, whether it’s excessive marketing, excelling their advertising campaigns or providing valuable guidance and additional coaching through the selling process, especially if it becomes challenging or stressful.
No landscaping projects.
Listing your home in the spring or summer means maintaining curb appeal, which can be arduous and expensive. You’ll need to invest time and money into new plantings or at the very least, lawn maintenance.
In wintertime, though, the landscaping is easy. If there’s snow, you shovel it.
Less traffic, less visitors, less inconvenience.
Obviously, there is likely to be fewer buyers viewing properties during the winter months, and those buyers will be more focused and more motivated. Fewer showings means less inconvenience, less tidying up every morning before leaving home and less people patrolling through your home.
This also means fewer open houses, which can require extensive preparation and may not always prove to be a rewarding process. A winter open house also attracts more motivated visitors and there are less window-shoppers during the cold-weather months.
A faster home sale.
It’s counterintuitive but true: Homes do actually sell more quickly in the winter months. There’s no general consensus to explain this phenomenon, however the low inventory may be a major contributory factor. Many buyers may be on an expedited timeline and need to complete the process without delay and so they’re more willing to pull the trigger.
A higher listing price.
Another surprise – statistics highlight that homes actually sell at a slightly increased price in winter. This is determined by several less mysterious factors. First of all, your real estate agent is going to be more diligent about pricing the property to ensure that the home does not languish on the market until spring. Motivated buyers may also present an offer that’s just too good to refuse to ensure their offer is accepted. Finally, there may be a concern of rising mortgage rates as rates tend to increase in the spring — this may encourage a buyer to pay a higher price upfront.
If you are considering selling your home in the spring, please take a moment to also consider the benefits of approaching the market place during the early months for the reasons above. Please do not hesitate to contact me
for any further advice or consultation.