Selling a Home in Winter
Many people wait until spring to put their homes on the market, but this is not always the best way to get the highest price for a home.
In the spring when the market is flooded with homes, the prices tend to stay steady or come down slightly because buyers have more homes from which to choose.
Alternatively, when a home is placed on the market during the winter months, there are fewer homes from which to choose, which tends to force prices upward.
Also, a buyer looking to buy in the winter months is likely to be a more serious buyer, which is demonstrated by the simple fact that he or she is searching during the colder part of the year.
Two other factors which could force prices down in the spring are mortgage interest rates and tax deductible portions of the mortgage payment which may change with new tax laws.
When the stock market is performing well, investors tend to take money out of the bond market which supports mortgages and move their money into stocks. Because this results in less mortgage money being available, it tends to make the interest rates increase, which makes homes less affordable, hence creating a downward stressor on home prices.
If new tax laws, which have not yet been fully developed, remove portions of the current tax deductions from a mortgage payment, such as interest, then this could result in a downward stressor in home prices to offset the reduced tax benefit.
So, if you are thinking about selling, then give me a call, because waiting until spring could cost you money.
Ron Trzcinski
Century 21, The Real Estate Centre
9506 Harford Road
Baltimore, MD 21234
410-665-0200 Office
410-935-5844 Direct
zenithret@gmail.com
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