No Matter What the Groundhog Says ... You Should Sell Before Spring! By: Barney Watson RE/MAX On The Lake Broker / REALTOR® / Managing Partner
Is spring closer than we think? Depending on which Groundhog you witnessed on Monday, you may have less time than you think to get your home on the market before the busy spring season.
Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.
Here are four reasons to sell now.
1. Demand is Strong
Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are currently more prospective purchasers looking at homes than at any other time in the last 12 months, which includes last spring's buyers' market. These buyers are ready, willing and able to purchase ... and are in the market right now!
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
The level of quality listing is low, which means in the Lake Gaston area, there are not enough homes for sale to satisfy the number of buyers in that market. This may be good news for home prices. However, additional inventory is about to come to the market.
The choices buyers have will increase in the spring. Don't wait until all this other inventory of homes comes to market before you sell.
3. The Process Will Be Quicker
One of the biggest challenges of the housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend itself to a smoother transaction.
4. It's Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
That is what is truly important.
