It is cold and dreary during the winter months and, as many claim, probably considered the worst time to place a home on the market. Or is it? On the contrary, it may be the optimum time.
Of course, it is always a challenge to place a home on the market. Is it the right time, will I get the best price, how do I prepare my home to show in its best light, etc., etc. It is no different in the winter months of January and February. However, if you have to sell–you have to sell, no matter what the timing.
Just knowing what is necessary to sell your home for the time of the year will give you one leg up on your competition. Yes, your competition. As once a house is placed on the market it is no longer a home, it is now a product (or commodity), and what is on the market plays a big role on how to market.
The bright spot about placing your home on the market now as opposed to in the spring, summer and early fall, is that your competition is not as great (less homes on the market gives less of a choice to buyers). Which also places your home ahead of the upcoming spring market onslaught of homes, including this year’s possibility of the pending foreclosures ready to be release for sale. With less competition, you have a greater chance to get it shown and sold.
Conversely, there are less prospects looking for homes this time of year also. But I can assure you that there is a higher percentage of real buyers this time of year vs. the “lookie-loos” during the aforementioned seasons. Winter prospects need to buy, otherwise why would anyone want to look in this weather unless they really needed a place to move. Many corporations do their hiring during the first months of the year based on their new budgets; and those who have finally sold their homes need somewhere to go to. It also helps that the interest rates are still at historically low levels. And with a pent-up demand for housing, it may be the perfect storm to get your home on the market.
Watch for my next blog, preparing your home for the winter market.