Spring has historically been the “real estate selling season” in most people’s minds. Many home owners believe it is the best time to place their home on the market as buyer demand increases at that time of year. There are, however, advantages to selling during the Fall and Winter; here are five reasons to sell your home in winter, or now.
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. You and your family will not be bothered and inconvenienced by the casual ‘lookers’. The lookers are at the mall or online doing their holiday shopping.
2. There Is Less Competition
Housing supply always decreases at this time of year. This year will we expect that the number of distressed properties being liquidated by the banks (in the form of foreclosures & short sales) will continue to trickle onto the market in Frederick Md. However, for those buyers looking for a non-distressed property, the choices will be limited. If your home is one of the non-distressed home on the market, you’re at an advantage.
3. The Process Will Be Quicker
One of the biggest challenges of the recent housing market has been the length of time it takes from getting a contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow down in the winter, cutting timelines and the frustration these delays cause both buyers and sellers. The winter is traditionally slower for real estate sales, which is in itself an advantage for a seller.
4. There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 10% from now to 2018. 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
Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is waiting for an expectation more important than being with family? Is holding to an earlier plan more important than your health? Is waiting more important than having the freedom to go on with your life the way you think you should?
You probably already know the answers to the questions we’ve just asked. You have the power to take back control of the situation by pricing your home properly for your market, to guarantee it sells. Only you can decide if the time has come for you and your family to move on and start living the next phase of your life.
If your reasons for selling are compelling, don’t let the common myths and misunderstandings that always circle around keep you from getting to your goals. Whatever the time of year, people successfully buy and sell homes. Your long-term goals can be achieved, no matter the season.