By Vanessa Saunders, MBA, MIMC, Broker Owner, Global Property Systems Real Estate.
“What? Sell my home in winter? It would be great if we could sell, but I think I’ll wait ‘til spring.” This is the typical response from sellers at this time of year in a normal economy. But this year is different as we face even more hurdles. Where would you go if you were to sell, and how could you afford to? Interest rates are all over the place, but higher than we’ve seen of late, so why sell if you don’t have to?
But the truth is these days, listing your home for sale is a smart move. Of course, not everyone shares the same motivation for selling, but here are some facts to consider.
As we enter the final stretch of winter, many homeowners, even in a normal market, may hesitate to list their homes for sale, thinking that waiting until late spring will be more advantageous. However, this is not necessarily the case, and listing your home in winter can be smart. Here are some facts to consider when deciding when to list. Yes, even now.
Inventory is currently at an all-time low, which means that sellers may be able to take advantage of the law of supply and demand, potentially resulting in higher sale prices.
With fewer homes available for purchase, buyers may be willing to pay more to secure the home they want. Additionally, if your home is marketed correctly, it may stand out even more in a market with limited inventory.
Expert help is available.
If you’re worried about where you’ll move to after selling your home, GPS can help. We have local area specialists all over the country, even overseas, who can help you find the perfect place to call home. Additionally, if you need help with financing, our financial gurus can provide creative financing ideas you may not even be aware of.
Motivated buyers are more likely to be shopping.
Buyers who are willing to brave the cold weather to go house hunting during a time of higher interest rates are more motivated and serious about making a purchase. This can increase the chances of receiving serious offers and puts you in control of the sales process, allowing you to choose when to close the deal. This, in turn, gives you more flexibility to find a new place to call home without feeling rushed or pressured.
Lenders are less busy.
Another advantage of listing your home at this time is that there are fewer buyers competing for mortgage pre-approvals; as the demand for pre-approvals has slowed down lenders may have more time to process loan applications, making the financing process smoother. That works for you, too, should you need financing to move forward.
In conclusion, while there are many factors to consider when deciding when to list your home for sale, not just the winter months holding you back from putting your home on the market. By listing your home now, you may take advantage of limited inventory, more motivated buyers, and faster loan processing times.
Thinking of buying a new home or selling your current home? Reach out to us at Global Property Systems to learn more about how we can help.
