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Our mission at The Tami Holmes Real Estate Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Wednesday, December 14, 2016

Why Is Winter a Great Time to Sell Your House?



Is winter a good time to sell your house? This time of year might actually be the best time. Low inventory and less competition make conditions very favorable for sellers.

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Why is the wintertime a great time to sell your house?

Sometimes, it really pays to go against conventional wisdom. As you probably know, spring is the season when most people around Southwest Ohio put their homes on the market. And yet, there are a few powerful reasons why now might actually be a better time than either spring or summer to sell your home.

It makes perfect sense when you think about it.

By the fall, the bulk of spring listings are expiring. As a result, there is less competition. Also, home buyers in the fall and winter are more serious. They have been looking at listings for months, and they are eager to end their search and move in comfortably before the holidays.

When you put those two things together, you get that homes listed in the fall sell more quickly and often command a higher price. In fact, winter is the season with the highest percentage of sold listings, beating out summer by 1%.

Now, if you are thinking of selling your home this fall or winter, there are a few things you have to do differently. First, you have to prepare your home to account for the particular fall and winter conditions.
Winter has the highest sold percentage, beating summer by 1%.
For example, you need to check the HVAC system and replace your furnace filter so your home will be warm and smell fresh. Make sure to turn on all the lights; you've got to compensate for the shorter, cloudier days. Cleaning up the yard is also a must.

The second thing you need to do is price your home appropriately. To get started, check out my home value calculator I created that takes into account recent Southwest sales to give you an idea of what your home is worth right now. Your house may be worth far more than you think.

Once you have an idea of what your home is worth, how should you price it?

On the one hand, the fall and winter are not good times to start with a sky-high price. If you don’t sell right away, you might not have time to adjust the price because of the smaller number of buyers and the shorter selling period. On the other hand, those serious buyers I mentioned earlier might be willing to pay more simply because they’ve been looking longer and are more eager to buy.

It’s a balancing act. It’s also something I can definitely help you with. If you have any questions, give me a call or send me an email soon. I'd love to help you out!