With all the trauma sellers are experiencing trying to market their homes lately, the one question that always seems to concern them is "when is the best time of year to put my home on the market". I usually answer that by saying that you can't sell a home if it's not for sale. Trying to "time the market" may work to your disadvantage.
In the metro area, there is typically a higher percentage of job related transfers moving in, although that market has slowed considerably with the economy. Since many of those people have children in school, they tend to favor moves during the summer. Although much of what is contained in this article pertains to all markets, it is more important for sellers in the metro area to have their home on the market during summer.
In Pickens County and the rest of North Georgia, we are blessed with mild winters and larger tracts of land around our homes. Furthermore, our market is driven more by vacation and retirement homebuyers than by people moving here with children, although that is certainly not always the case. We are further blessed with a good school system, and people with children seeking to move away from the metropolitan area recognize that, but that is not the largest driving force of residential real estate in the area.
Following are points to consider if you are thinking about selling your home during winter:
1. Number of Showings - Yes there are fewer buyers, but those buyers that are left are usually very serious about making a purchase. It is wise to remember that it only takes one successful showing to sell a home, so the focus should be quality instead of quantity.
2. Less Competition - Many people wait until spring and summer to list their home, which means during the winter you will likely have less competition than at any other time of the year.
3. Homes Show Better During the Holidays - Buyers love homes that can tell a story. The holidays are a great time to show homes because the home is usually dressed up for holiday celebrations! Some people do not like to be interrupted during the holidays, but refer to #1 above. Your real estate professional can control showings to prevent spoiling a party or family get together. The first contract I wrote in 2003 was at 11:00 A.M. on New Year's Day!
4. Better Views - Since many of our local residents enjoy lot sizes of two to twenty acres and even more, and since we have such beautiful views throughout the county, it is important that prospects be able to see the land they are buying. When the leaves are down, it is much easier to recognize views, streams, and other natural beauty associated with your property, and if the buyer wants to walk the land, there are definitely few problems with bugs, snakes and heat.
5. January is the Biggest Transfer Month - Did you know that more corporate transfers happen during January than at any other time of the year? This tends to make the summer move theory more psychological than practical, and may be a great reason to list your home during the winter no matter where you live.
6. Timing - By putting the home on the market during the winter you may be able to more easily hit your targeted moving time frame.
7. More Time To Get Top Dollar - By starting to market your home early you may be able to secure a higher price.
8. More Advertising - Because most agent and offices have less inventory during the winter your home may be advertised more often than during the spring and summer months.
9. More Attention - Many agents will be able to devote more specialized attention to your needs during the winter because they have fewer clients to manage.
10. Interest Rates - Today's interest rates are still very favorable. This gives buyers more spending power, and will be even more important when you begin shopping for your next home. Delay may cost you significantly in higher interest charges.
Comments(3)