Many sellers feel that the Spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the Fall and Winter have their own advantages.
1. Only Serious Buyers Are Out Here are 5 reasons to sell now:
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. Your clients will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.
2. There is Far Less Competition
Housing supply always shrinks dramatically at this time of year. This year will be a little different as some of the distressed properties being liquidated by the banks (in the form of foreclosures & short sales) will enter the market.
However, for those buyers looking for a non-distressed property, the choices will be limited. Your sellers shouldn’t wait until the Spring when all the other potential sellers in the market will put their homes up for sale.
3. The Process Will Be Quicker
One of the biggest challenges of the 2012 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.
4. There Will Never Be a Better Time to Move-Up
If your client is moving up to a larger, more expensive home, they should consider doing it now. Prices are projected to appreciate by over 15% from now to 2016. If they are moving to a higher priced home, it will wind-up costing them more in raw dollars (both in down payment and mortgage payment) if they wait.
They can also lock-in their 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 Their Life
Ask them the reason they decided to sell in the first place and have them decide whether it is worth waiting. Is money more important than being with family? Is money more important than their health? Is money more important than having the freedom to go on with their life the way they think they should?