The short answer is “Yes!” But I’m a realtor and of course I’m going to say that, right? Well, I’ll be honest and tell you that I think there are times of the year that are better than others to sell a home, and there are pros and cons to them all. It’s a fact though that homes sold in November and December sell faster and sell closer to their asking price, according to a National Association of Realtors (NAR) study (go to link). This is not conventional wisdom – everyone says that the summer months are the best time to buy and sell! Think about it for a minute though…if you’ve just run a marathon and there are only two companies selling bottled water at the end of the run, aren’t those two companies going to be able to sell the bottled water at a higher price than if there are ten companies selling bottled water? It’s supply and demand. As a runner, you need that water and you’re going to pay for it, and you’re probably not going to haggle over the price, at least not much – you not only need it, you need it quickly! As a bottled water company at that race, you’re in a pretty good position.
During the holidays, sellers are in a good position too. One, there are not as many homes for buyers to view and choose from, so there’s less competition. Two, the buyers that are looking during this time of year are serious buyers – they are out looking because they have a serious need to buy a new home, either a relocation for work, a lease ending, their home has sold, or something similar. Three, the buyers that are looking very likely want to be in their new home by Christmas and/or the beginning of the year, which means they want a new home quickly. (Check out this video for more information!)
All of these are pros for sellers! Now, sellers still can’t get crazy and list their home during the holidays for $30,000 more than market price and think it’s going to sell due to these factors…price and condition of the houses listed are still important…we can’t ever forget those cornerstones of selling. The bottom like is, if you’re thinking of selling, don’t listen to conventional wisdom and try to sell during the late Spring and Summer months like most people do! Get your home on the market in November or December – if it’s priced well and looks good to buyers, it will sell it quickly for the price you set. Want to know more? I’m always here to help!
You probably have heard of home staging if you want HGTV or TLC or those kinds of channels, but what is home staging and what is the process? Home staging is the process of using a professional stager to situate the items and areas in your house so that it will appeal more to buyers by telling them a story…watch to see why!
Conventional wisdom in real estate has always been that the prime time to sell is in the late Spring and Summer. I’m here to tell you that is WRONG…sellers SHOULD be out in the cold this Winter and early Spring. Current mortgage rates completely trump that conventional wisdom these days. I have repeatedly told potential sellers this recently – do not wait to sell, get the house ready and on the market TODAY! Why? Because you will have much less competition if you get your house up for sale TODAY. Because mortgage rates are low TODAY – this is great for buyers of your home, but is also great for you to be able to buy another home. Because buyers are ready TODAY. Whether this will all still be true TOMORROW is anyone’s guess, especially about mortgage rates. This is such an exciting time for home sellers, I can’t say it enough! Want to know more? I’m here for you!
Have you heard the news reports saying that “housing inventory is low”…sounds kind of technical, right? What does that mean? Basically, it means that home buyers can’t find a home to buy right now! It means that if you’re considering selling your home, now’s the time – you set the rules and buyers are likely to play by those rules. It means that if you have a nice house that shows well and is priced correctly (and don’t worry, that doesn’t mean priced low), it will move and it’s likely it will move fast (no pun intended) – I’ve even seen homes I would consider overpriced move quickly. And finally, it means that it’s a sellers’ market. Please, do not believe those news reports that say that it’s a buyers market! From a national and/or statistical standpoint, that may be true. But here, in the Dallas area, sellers are in charge for now!
Want to know more? Send me an e-mail or leave a comment!