Winter is coming, or is already here, even though the calendar doesn't quite reflect that yet. The temperatures are dropping and the white stuff has begun to fly. What does that mean if you're selling your home? In this edition of That's Your Home, Solomon Syed explains more.
"Generally inventory is the lowest going in November, December and going into January, so there is less competition out there at that time, so you may stand out as opposed to the spring market when you're one of many homes coming out weekly," said Kevin Clancy, Real Estate Broker.
With a few holidays already over and more on the way, it may not seem like the best time to market your house, but it could be one of the best times to show it.
"Homes show fantastic when you have holiday decorations up throughout the home or holiday lights. It is a good time to show. Obviously you want to keep walks shoveled because there is a little bit of a hazard there seasonally. If the house is vacant, you want to keep the heat up. Often we'll see sellers leave a vacant house with the heat down in the 40s and 50s and it's just not conducive to getting buyers to stay in the house," Clancy added.
If your home has been on the market since the summer and hasn't sold, you might think about removing the listing and wait until warmer months to try again. As Clancy tells us, that might not be the best idea.
"My advice is to generally keep the home on the market. I think if you're putting it on the market and taking it off, it sends signals to the market people see. It's really easy to see on some of the larger Internet sites how many days on market, when it's been on when it's been off. Buyers get confused. Are you playing games, are you selling or are you not? Trying to time the real estate market is trying to time the stock market and it's really very difficult," Clancy went on to say.
Whether buying or selling this time of year, realize that if people are in the market, there is a reason for it, whether a financial change or a family change. Motivated buyers and sellers are out there and ready to do business and you should be to.