Tired of your house? Are you feeling cramped in your small space? Or are you an empty-nester who needs less space? Instead of listing their house while the market has less competition, many homeowners wait until spring because they believe it will sell faster and for more money. Here are some reasons why you shouldn’t wait until spring:
1. Less Competition
Right now there are less homes on the market and buyers will more likely notice your home online. Low supply usually creates an upward shift in prices. Combine low supply with more demand in the market and you may receive more for your home now than in the spring.
2. Time to Prepare
Over 95% of buyers look online before they visit a house on the market and staged homes sell for 8 -10% more than un-staged homes. If your house doesn’t look picture-perfect on MLS, that potential buyer will skip over your house with just a click of their mouse. There is still time to have your house professionally staged, an investment that usually means a one-time consultation fee for occupied homes or .25% to 1.5% of the market value of a home if it is vacant and needs to be fully staged. This amount is much less expensive than the carrying costs associated with paying taxes, upkeep and mortgages. Not to mention, it is a lot less than your first price drop of $25,000 or more. My best advice is to call a professional home stager BEFORE you call your realtor so that your house is ready for that first showing.
3. Low Interest Rates
Interest rates will go up and many would-be buyers are concerned that they will lose buying power if they wait too long. It helps sellers when buyers can afford more home due to low mortgage rates. Also, if you sell now with the plan to buy right away, you’re getting the same low interest rate advantage.
4. Serious Buyers
Some buyers will stop looking for houses in the fall and winter months. However, serious buyers look for homes regardless of the time of year. Buyers in the winter months have an opportunity to see what your neighborhood is really like. Are their lights out during the holidays? Are there kids trick-or-treating? Are the sidewalks shoveled in the wintertime? These buyer will look for these characteristics to determine whether or not your neighborhood is a good fit for them.
First Impression Home Staging and Interior Design will design a home staging or interior redesign to fit our client’s needs an budget. We specialize in both vacant and occupied homes.
Call us before your list your next home.