Monday, November 7, 2011

Waiting Until Spring to List a Home

Hmmm, should I list my home for sale now, even though it is the holiday season and end of the year, or should I wait and list it in the spring? Everybody knows that springtime is the best time to sell a house. Isn't it? I hear this question every year about this time, my answer is always the same: "Do NOT wait, list now." If everyone else is thinking like you, they will keep their homes off the market until spring too, (meaning less competiton for your home now) then all of a sudden, come spring, the market will be overflowing with new listings, competing for the same (few) buyers! Besides, what about all those foreclosures that the banks put off over the holidays? They will be hitting the market too. What if the interest rates change and buyers can no longer qualify for the same loans? What if home values continue to drop? That same home may be worth even less in the spring. If you have a home to sell, sell it now. Serious buyers are still looking for homes, even through the holidays. And don't forget about taxes, some buyers need to buy before December 31st, to get tax benefits. Waiting or putting it off could backfire on you. The time it takes to sell a home right now is longer than you think. List now, you may get lucky and get it sold by spring! And just some food for thought: If you price it "competitive", (about the same as other homes like it) you will be competing for a while, (and make every home less than yours, look like a better deal). If you price it "compelling" (10 to 20% below market value) yours will be the first one buyers want to see and may be the first one to sell. Sell, now, get your money and take your time choosing your next home, and at a bargain!