5 Reasons Winter is a Great Time to Sell a Home
Is the winter housing market hotter than you think?
Although spring and summer are typically thought of as prime time for selling and buying a home, there are distinct advantages to list your home for sale in the first part of the year. Really, you ask? Your skepticism is certainly understandable, after all winter is darn cold here in the Twin Cities Metro, right? And aren’t buyers gravitating to a warm fire and a cozy corner waiting for the spring thaw to house hunt? Some, yes, but all of them, absolutely not! Let’s take a closer look at reasons you may want to list your home now.
1. Winter buyers are Not Window Shoppers
While some buyers hibernate in winter, not all of them do. There are folks out there that need to buy homes 12 months of the year due to job changes, (large corporations traditionally hire and transfer more in the early part of the year) relocation, or family changes, like the birth of a child. These folks are serious buyers because they don’t just want to move, they need to move. As a seller, you will like these buyers a lot!
2. There is Less Competition
When spring arrives house for sale signs pop up everywhere like mushrooms after a heavy rain. Because the inventory of homes for sale in the winter is lower, your chances of landing a buyer improve. It’s that basic and fundamental principal of supply and demand. As a seller, this should make you smile!
3. You May Get a Better Price
Serious buyers who have to move will often expect to pay more for a home. They are less flexible in regards to time and often negotiate less on price and other issues. Those that really need to get into a house quickly will often be willing to pay top dollar. As a seller, you will love these buyers!
4. Interest Rates Are Low Right Now
While no one has a crystal ball to predict when rates will rise, back in mid-December the central bank said that it would be "patient in beginning to normalize the stance of monetary policy" and during a press conference, Fed chair Janet Yellen said that the Fed may not move to raise rates until after a "couple of meetings" in 2015. Based on these statements, many analysts believe the fed could raise rates in the second half of this year. This fact is another motivator for buyers to dig out those scarfs and mittens to get out there early in the year. Lower rates also enable greater affordability for more potential buyers to be able to afford to buy your home.
5. Is your Home a Winter Rock Star?
Winter provides an opportunity for energy efficent homes to shine! Improvements that save energy are far more meaningful to buyers when the snow is flying and the temperatures are dropping. If your home has a heated garage, a new energy efficient furnace or water heater, windows and doors with a high energy saving rating, or energy efficient appliances, winter might be the preferable time to list your home.
So if you want to sell your home in 2015, why wait. List it now, sell it, move on with your life. This summer while all those other sellers will be busy keeping their homes and yards in perfect buyer-ready condition, picture you, relaxing by the pool, cool drink in hand, smelling the roses!