Should I Sell my Long Island NY Home Now or In The Spring?

Should I Sell my Long Island NY Home Now or In The Spring?

Most Long Island NY home sellers are under the assumption that selling their home in the Spring increases their chances of selling quickly because most people look for homes during the nicer weather. Not all true.

1. The fall and winter bring out the serious buyers. Spring time will have a mix of serious buyers and the "just looking" type and it's hard to tell who is who unless you know for a fact they are pre-approved for a mortgage. When someone looks at your house in the middle of the winter, you know for the most part, they are very serious. Who wants to "just look" at homes when it's 25 degrees outside and windy? I opt to stay in those days with a cup of hot chocolate unless I have a serious buyer to help them buy a home.

2. You, the seller, has less competition around you. In other words, there will not be a lot of homes listed during the fall and winter months comparable to yous and that means more pre-approved, serious buyers to view YOUR home.

Here is an example:

Newly Listed Homes in Babylon Village
January 2009: 10
February 2009: 18
March 2009: 21
April 2009: 27

See how the numbers kept creeping up?

Newly Listed Homes in Babylon Village
August: 21
September: 20
October: 7
November 1st Through November 13th: 9

So, October and November took a nose-dive compared witih August and September.

I can understand not wanting to list your home during November and December during the major holidays. It's busy enough as it is without selling your home in the process.

Here is some food for thought:

1.  Think of selling your home like you are running a business. The less competition against you, the better it is for you. Out-smart the competition!

2.  Price your home AT MARKET VALUE. When a home is truly priced at the current market value, it will not take 60 days or more to sell. A lot of sellers go against their Agent's advice and want to price it at above market value. That is NOT going to work for you. The buyer pool is smarter than that and your home is just going to sit and collect cobwebs, not offers.

I always offer No Obligation Comparable Market Analysis. I come to you with numbers, not a sales spiel. If you can't afford to price at market value, then it's not a good time to sell and I will not take a listing priced above market value anyway because yours and my time will be wasted and you'll end up not happy with me in the long run. I want you happy.

Call Jackie Connelly-Fornuff today 631.703.0201 for a market analysis of your home.

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