Should I sell home in fall or winter yes or no? Homeowners that is a great question. It is a myth that homes only sell in spring and summer. Homes sell all year around. Studies show that homes sell for a slightly higher price in autumn and winter month. Logical reason would be that there is less inventory. Competition maybe new listings and overpriced listing that have been on market a long time.
Should I sell home in fall or winter yes or no?
Housing Inventory Historically Low
Should I sell home in fall or winter yes or no? One reason why selling a home during fall and winter is that housing inventory in low. Active listing inventory is greater during spring and summer months.
One of most common reasons why selling a home during the fall or winter months is a great idea is because the number of homes that are for sale during these months is much less than their counterparts, spring or summer. Someone selling a home in West Los Angeles and Beach Cities during autumn and winter will face less competition.
Example: during winter months families are getting ready for the holidays. They do not want prospective buyers in and out of their homes. In Southern California we do not deal with snow. We are spoiled. If the temperature downs to 70 degrees, there is an overcast or it is raining they do not want to sell.
Considering selling in fall or winter? It is important to understand inventory and market data in your area. West Los Angeles, Marina Del Rey, Playa Vista, Westchester, Ladera Heights and surrounding areas current inventory and sales data. In addition contact a local Reator®. Your local agent can provide additional information regarding current inventory and real estate market conditions.
Emotional Time Of The Year
The most popular holidays of the year are in the fall and winter months. It is an emotional time for buyers and sellers. Home sellers embrace the season. Your home can be tastefully decorated for the holidays. This is a prime time to target prospective buyers emotions. Let the prospective buyer envision themselves in your home during the next holiday season.
DIY home staging tips. During fall and winter additional staging tips
- Light-up fireplace
- Keep your rooms warm
- Keep lights on in all rooms
- Tastefully decor home for holidays. No clutter
- Scented Candles peppermint, cinnamon, pine, apple
- Curb appeal
Price Your Home Accurately
Your home should be price accurately in any season. Selling your home during fall or winter months home should be priced aggressively and accurately.
Aggressively priced real estate goal is to attract tons of activity within the first 10 days the home is listed. The goal is to have multiple offers. One or more of these offers should be at asking price and above. The “Old School” view of listing high and then reducing the asking price can be counterproductive. It waste time, you loose prospective buyers and sellers end up getting less profit. Pitfalls of Overpriced Listings.
The housing inventory is less during fall and winter. Typically prospective buyers search during this time is lower as well. Seller must consider that housing inventory has been low for over a year. There on buyers just sitting on the fence waiting for a new listing. In real estate time is of the essence. Selling your home in fall or winter does not hamper buyer’s demand for a home.
Mortgage Interest Rates Are Not Predictable
Mortgage interest rates are not predictable. In the last few years mortgage interest have been historically low. Home sellers do not take for granted that they will start low. Let us say you do not sell October 2016. The interest rates are under 04%. Wait until summer. What if the interest rates are 05%. A 01% increase in interest rates can drastically impact buyers that can afford you home. .
The mortgage interest rate dictates exactly a buyer home purchasing power. An 01% increase in interest rates reduces buyers’s purchasing power by 11%. Buyer that qualifies for a $700,000.00 mortgage at current rates will qualify for $622,300.00 if interest rates increase by 01%. An increase in mortgage interest rates decreases the number of potential buyers. It also decrease seller’s home values. Sellers reap the highest profit when there is inventory scarcity and low mortgage interest rates. Selling in fall or winter maybe the best time to sell for maximum profit.
Fewer Tire Kickers
Selling in fall or winter there are more serious home buyers. Maybe it is the weather or the holidays. But fall and winter home buyers are serious. Sure there will still be tire kickers and neighbors comparing homes. But when a buyers comes to look at a home in the rain they are serious.
In spring and summer months there are more home buyers. Many are not serious buyers. They have search the web but are professional ” Lookie Lou’s.” Let us not forget you friendly neighbor. They are tire kickers and have no intention of purchasing a home. These are not serious home buyers. Fall and winter months tends to filter through these non-serious buyers. .
Potential home buyers that purchase in fall or winter tend to purchase quicker than buyers in other seasons. Reasons: been looking for a long time, the holidays or the weather. Another reason the competition is greater or fear mortgage interest rate increasing.
Are you in a area or in a surrounding area experiencing job opportunities. Any example is the Playa Vista Runway. There is a possibility that people are being located to your city. Prospective buyers being relocated for job opportunities in your area. Job opportunities maybe available the first quarter of the new year.Therefore, they are looking to purchase a home in the fall or winter. If you selling in these areas fall and winter is a good time to sell your home. A top Realtor® knows how to market to buyers relocating to West Los Angeles and Beach Cities.
Should I sell home in fall or winter yes or no? Should you sell your home during fall or winter Yes. The housing inventory in lower. In fall and winter months there are fewer buyer, as well. The positive is that these buyers are serious. Fall and winter is holiday time. It is an emotional time. Stage your home to appeal to the prospective buyer’s emotions. Mortgage interest rates are currently historically low. Sell now or if you wait until spring mortgage rates can increase. This could decrease your home sells value. Are you in area or near an area experiencing job growth? Is the answer is yes? Buyers are relocating in fall and winter to fill job positions first quarter of the next year. Should I sell home in fall or winter yes or no? THE ANSWER IS YES!
Gail Mercedes Cole licensed Realtor in Southern California. Coldwell Banker Residential Playa Vista/Westchester offices. Areas of expertise West Los Angeles, Marina Del Rey, Playa Vista, Ladera Heights and surrounding areas. “Selling Dreams and Lifestyles.” Call or text Gail (310) 853-9933. Can email email@example.com If you need to buy or sell your home call me let’s chat!