Just when you were almost ready to put away your snow blower, your winter boots and your ice scrapers, along with putting a “For Sale” sign on your front lawn for the spring season, you realize you still have another good month or two to “weather” the “weather” and winter surprises.
Many homeowners whose intent is to currently sell, purposely wait for the spring market to list their homes for sale. It is understandable that they have the rationale to delay the process, knowing that springtime is peak for buyer interest. We all know that in the spring gardens are in full bloom, and the change in warmer weather is a feel-good, get-out-there-and-look motivator for buyers. These sellers are convinced that the spring is the best time to sell quickly at the highest and best price.
OK, so it makes sense overall to wait, if one is not under pressure to sell now, since the majority of home buyers do start the process in early spring for the transition planning to take place during June and the summer months before the following school year begins. When procuring the home of your dreams, keep in mind it could take 90 days or more from the start of the offer, agreement, attorney review, under-contract phase and mortgage final approvals for the process to completely transpire, as part of the consideration of timing of when to start the home search.
However, as a professional real estate agent who has sold homes in all kinds of weather, whether in frigid 0 degrees or sweltering heat of 100 degrees and more, in all 12 months, 360 days of the year, let me point out some downsides of waiting to sell; after all, as we experienced people of life always know, there are downside factors to consider in everything we do!
Right? My job is to merely point out some factors and negatives for delay, and your job is to take it into consideration for timing purposes and decision making.
In the spring, a higher percentage of homeowners put their house up for sale, which then creates flooding of the market with more choices and homes for sale… and then you know what happens: the buyers are more independent and assume they can control the price of offers due to competition—the supply-and-demand factor.
In February, by contrast, perhaps you’ll be able to reach buyers who have just received their bonuses, plus a pool of solid buyers who are convinced they’ll get the better deal now before the spring market prices go up and don’t want to miss out on the turn-of-the-year bargain prices. And let’s not overlook the winter holidays, whereby the pressure at work may be reduced and time for home buying is more sustainable before the spring sets in. A point worth mentioning to the seller for winter showings is that at least you know, when buyers do come through your door in winter months, they are more likely to be the serious buyers who need to make an imminent purchase to make the move. Ultimately, the colder, uncomfortable weather weeds out the casual lookers who purely enjoy home viewings in nicer weather with no immediate plans.
Don’t get me wrong: your objective is to sell your home fairly at a price based on what the market can bear at any time of the year. Both buyers and sellers have their own rationale when to start looking/selling, and there are countless situations each family has to contend with, which is why real estate is marketable in all seasons. The trick is to get multiple buyers in the door as quickly as possible when you determine it is the right time to sell. If the right buyer does not come along now in the winter months, your home can continue to be for sale into the spring market rush, so no gain, no loss, but at least you know you didn’t lose any potential buyer who just bought another home on the market that might have been right for your home a month before.
So, if the time is right, go for it! Don’t lose out on the motivated buyers who are ready now, just because you think you have it all figured out!
Remember, it only takes one buyer, and that can happen 12 months out of the year. Go for it— don’t wait, don’t overthink, keep the house cozy and warm for lookers, pathways plowed for showing, and you may be pleasantly surprised.
By the spring, you might be well on your way to your next venture. Now, aren’t you happy you didn’t wait after all?
By Ruby Kaplan
Ruby Kaplan is a real estate agent with V & N Group LLC, licensed in both New Jersey and New York. Her passion is to help people meet their housing needs and goals. Having bought, sold and built homes, she has acquired an expertise to represent both sellers and buyers. She is sensitive to her clients’ needs and has a driven commitment to oversee all her transactions with honesty, integrity, knowledge and dedication. Ruby can be reached at her office at 201-692-3700, at the company’s website at www.vera-nechama.com, on her cell at 917-576-4177 or at [email protected].
