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With every decision in life, there are pros and cons. Choosing when to sell your home is no different. Many homeowners believe that selling during the fall and winter months is not a good idea; they think spring is the only time a home can be sold. This couldn't be further from the truth! Here's why.
- Less competition. The fewer comparable homes for sale, the greater the probability a buyer will look at your home. It's a matter of supply and demand. If there are fewer homes for sale, buyers have fewer homes to choose from. This increases the demand for your property. Not only will low supply increase your chance for showings, but it will increase your chances of selling for top dollar.
- Low mortgage rates. Interest rates are expected to increase soon. Since rates are so low now, buyers are able to afford more expensive homes. If the rates go up during the winter while you wait to list your property, you could lose thousands of dollars. Higher rates could eliminate certain buyers from the marketplace. Less demand for your home means less money for you. Bottom line? Take advantage of these low rates now.
- Serious buyers. Homes are bought and sold 365 days of the year, not just in the spring. Some buyers may stop looking during the fall and winter, but serious buyers are always out there. Plus, if your neighbors put up holiday lights, buyers can really get a feel for your neighborhood.
- Use the best agents. The best agents are always up to a challenge. A great agent will adapt to the season and market your home appropriately. They will also give you tips on how to sell in the winter. If your agent tells you that homes simply don't sell in the winter, you need to be concerned about how creative that agent will be in marketing your home.
- Quicker transactions. Since there are fewer transactions in the winter, everyone from the mortgage company to the home inspector has more time to focus solely on your transaction. This means that you can close faster in the winter than you could in the spring when everyone in the home closing process is much busier.
There are many advantages to selling your home in the winter. If you have any questions, give us a call or send us an email. We look forward to hearing from you!