The Holidays are right around the corner, should we sell now or wait until spring?
The annual question…
I get this question every year; in fact, I just had this discussion with a new client in Vista yesterday. The question is whether or not to place your home on the market now or wait until spring. Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the Fall and Winter have their own advantages. Here are a few you should consider. In addition, the market is HOT right now, so although we may see a bit of a seasonal slump in demand, overall demand is still very strong and our high powered marketing is still generating multiple offers for our clients.
1. Only Serious Buyers Are Out
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. Your clients will not be bothered and inconvenienced by mere 'lookers'. The lookers are at the mall or online doing their holiday shopping.
2. There is Far Less Competition
Housing supply always shrinks dramatically at this time of year. This year will be a little different as some of the distressed properties being liquidated by the banks (in the form of foreclosures & short sales) will enter the market, but overall in North San Diego county, inventory is WAY down.
However, for those buyers looking for a non-distressed property (staying away from foreclosures and short sales), the choices will be limited. If you are thinking of selling, you shouldn't necessarily wait until the spring when all the other potential sellers in the market will put their homes up for sale.
3. The Process Will Be Quicker
One of the biggest challenges of the 2012 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter, cutting timelines and the frustration these delays cause both buyers and sellers.
4. There Will Never Be a Better Time to Move-Up
If you are thinking of moving up to a larger, more expensive home, you should consider doing it now. Prices are projected to appreciate by more than 15% from now to 2016. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.
5. It's Time to Move On with Your Life
You need to think about the reason you want to sell in the first place and then decide whether it is worth waiting. Is money more important than being with family? Is money more important than their health? Is money more important than having the freedom to go on with your life the way you think you should? You also need to keep in mind that this is "maybe" money. We have an election on tap and we are in the midst of a tepid housing recovery. If rates go up or something else changes after the election to quell this buyer demand, we could be back to a buyer’s market really fast.
Thank you very much for reading my blog! I hope you found it helpful. If you enjoyed reading this, please let me know by adding a comment below or sending me an email. If you have any additional questions please submit those as well and you may see them on a future blog post.
Here are a few additional articles you may find useful!
1. What you need to know about the new Capital Gains tax.
2. Most Americans think home prices are set to rise. Find out why!
3. Considering refinancing? Read this blog first!
Thinking of selling your North County Home? My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. We specialize is helping sellers sell their North San Diego County homes for top dollar with minimal stress and hassle, specifically in Vista's Buena Creek neighborhood. Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have. Then we get busy right away marketing your home with professional photos, video tours, high quality print materials, and much much more! If you or someone you know is thinking of selling their home in North San Diego County, you own it to yourself to check out the #1 Realtor at Coldwell Banker in Vista Village, Casey Cooke!
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village, License#01845539.Phone (760)216-6604. Casey@CaseyCooke.com.
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