Selling in Winter
Winter can be an excellent time to sell your home
In any season, selling a house can bring out the procrastinator in us. Sellers may be financially and emotionally prepared in the fall, but oftentimes they don't get serious until winter ends. That's a lot of time to wait, and winter does not need to be the reason to delay selling your home
People think the homebuying is delegated to spring and summer because families don't want to relocate their kids during a school year, and so potential home sellers think they aren't likely going to find buyers during the other months.
But local market statistics reveal otherwise and real estate professionals in eastern Connecticut argue that you needn't wait. Even if it's three degrees below zero with a lot of snow falling, you should go forward with selling if you're ready, they say. Contrary to conventional wisdom, winter can be a terrific time to sell a house. Here's why:
Unlike in the springtime when there are abundant open houses to peruse whether people are ready to move, the people looking in winter are more likely serious buyers. Winter buyers are likely buying out of necessity, not choice. And for other buyers, career moves and lifestyle changes don't stop because of a little snow and cold.
Serious buyers will keep looking through the winters, and often have more free time to slip away from the office to go see a home.
There are fewer homes on the market in the winter, so less competition. This is especially good to know in our current market where multiple bids are not uncommon, depending on the location. Other homeowners may be less brave or believe in the idea that winter is a terrible time to sell, and so you're less likely to competing with another house around the corner. It's a number game to a degree; less competition means your odds of selling are greater. In the spring, the buyer has the upper hand on choice and potentially negotiations.
You may save on additional costs. Contractors are less busy and more likely to give you a deal on home improvements or repairs in the winter.
The same goes for movers, who have more availability and are typically less expensive in the cooler months.
There are a few down sides to selling in the winter. The sun sets earlier, so a lot of potential buyers may be looking at your house in the darkness. Keep in mind that your landscaping skills will not be shown off during the winter months. Your flower gardens and trees may be covered up and out of bloom, which takes away from the curb appeal.
On the other hand, New England is very beautiful in the winter and having a fire going in the fireplace is another nice touch for buyers to envision a cozy new life for themselves. Keeping curtains up for showings allows for natural light to counter the grey skies that winter brings. Be sure your exterior lighting is working, and clear your driveway and sidewalks. You don't want your potential homebuyers to go sliding into your front lawn!
Lastly, don't get too ambitious with pricing. Just because there is less inventory does not mean the sale is a shoe in. Have your Realtor® help you price your home just right to avoid excessive days on the market and be successful with your winter sale. In other words, if you have a house to sell, no need to delay. Put it on the market now.
Visit the ECAR web site at http://www. easternctrealtors.com.