These dreary winter days will eventually give way to warmer spring weather and plenty of sunshine. It might seem like spring is the perfect time to list your home. However, waiting too long to list your home can actually be harmful when it comes to selling real estate. If you are eyeing a new home or just want to get the most money for your home when you go to sell it, the faster you act, the more likely it is that you will enjoy a successful sale. Go ahead and fix up any lingering repairs, spruce up around the house, and get ready to put your home on the market as soon as possible.
Changes in technology have made it easier than ever for potential buyers to browse the market when they are ready to make a purchase. For those who live in cold and snowy climates with long winters, such as central Maine or Augusta, Maine, it's much easier to browse listings from a computer or your cell phone than it is to drive around to get a look at what's on the market in the area. As Our Towne Guilderland remarked, "Time is at a premium for most buyers and they are shopping at all hours and in all seasons." With the range of technology that is available today, potential buyers can find more ways to do this than ever before.
Life changes, such as having a baby or accepting a new job in another city, don't come to a halt during the winter months, even in colder climates such as Maine. In response to a recent increase in metro sales, Lane Hornung, CEO and founder of 8z Real Estate, notes in this Coldwell Banker article that there really is no down time for potential home buyers. "Buyers didn't take off the period between Thanksgiving and Super Bowl Sunday. They didn't get that memo that they were supposed to stop looking at houses."
When it comes to investing, listing your home for sale during the winter instead of waiting for spring to arrive can be a very smart decision. Redfin economist Ellen Haberle explains that as the Federal Reserve gets ready to build up stimulus programs again in the next few months, mortgage rates will increase. Haberle remarks, "For many buyers, this expected policy change is motivation to strap on their boots and find the right home before rates increase, regardless of the cold weather."
If you wait for warmer weather, you will be in for quite a surprise when you try to list your home. Colder winter months generally mean less competition for people who want to sell their homes. As Zillow suggests, many homeowners who are motivated to sell, and prospective buyers who are in the market for a home, slow down during the winter, even as early as Thanksgiving. This leaves the door conveniently open for homeowners who want their house to stand out on the market.
Don't let the slick roads and freezing temperatures stop you from listing your home during the winter. You may just find a buyer who will gladly pay your anticipated closing costs when you least expect it.
As we move through this winter in Central Maine, the market shows no signs of slowing down. Don't wait until the Spring to list your home! For all your buying and selling needs - we invite you to contact us today!