Reasons to NOT Wait Until the Spring
We hear it all the time - Clients would rather wait for spring to sell their home than list during the winter. Of course, we respect everyone’s personal timeline AND agree that moving in January isn’t always as fun as moving in April. However, there are some serious benefits to listing in the Winter, particularly THIS winter.
Here are 5 reasons why you should sell this winter:
1) Low inventory = less competition.
Inventory is still very low, and homes are still going for top dollar. With there being less homes on the market, the buyers have been competitive in writing their offers. What does this mean for you as a seller? The chances of you getting offers for top dollar compared to what you listed your home for are higher than normal. Buyer demand is outweighing the supply, therefore they’re willing to pay a little more for what they want.
2) Expect interest rates to rise.
The Federal Government is going to phase out its purchase of mortgage-backed securities starting in 2022, which means that interest rates will rise.
3) What happens when interest rates rise?
Buyers lose purchasing power in terms of how much home they can purchase, so home prices fall to match rising interest rates and meet buyers (aka the market) where they are at. Going back to reason number 1, selling your home for top dollar may not be in the books any longer.
4) Buyers looking in winter are seriously motivated!
All buyers are not looking to purchase a home, some are just ‘window shopping’ until they find the perfect one. One thing I can tell you is that buyers who aren’t so serious are more likely to be shopping around in the months with more housing inventory, unlike now. The buyers who ARE ready to buy will be looking at houses on the market and staying up to date, making sure they don’t miss the home of their dreams. The likelihood of you finding a more serious buyer in the winter versus in the spring is high!
5) Lenders and appraisers are typically not as busy in the winter months, meaning some of the processing delays we have experienced in this past summer/fall market may be eliminated. You are more likely to go through a smooth transaction in the winter months.
Have questions about "the state of the market" or want to know how much your home is worth TODAY? Give us a call for a no obligation meeting and value assessment.