Making a big decision is never easy, especially when you’re aware it will affect your entire life. How should you know if it’s the right time for you to sell your property, the place where you most likely spent many years and is filled with memories? This is always a serious step and it’s best to have someone you can trust guiding you throughout the process. Our team of professionals is eager to support you during your journey – from the beginning to closing the deal. Here’s a short guide we’ve prepared to help you decide if you’re ready for the big step.
The annual real estate doldrums …
Most advice you’ll hear about selling will be different, but there’s one time of year that most experts believe you should avoid when it comes to listing a home: wintertime.
“Between the holiday season and, in some parts of the country, the weather, there aren’t too many buyers incentivized to disrupt their lives and move into a new home, which means they aren’t really thinking about shopping for one, either — at least in some markets.
And fewer buyers means less of a chance that your home will be one of the homes that sells.
… And the peak selling season
Just like many experts will warn you against winter, springtime is commonly considered one of the best times of the year to sell a home.
“Buyers are interested in making a fresh start, yards look lush and green, days are starting to get longer, and tax season gives some buyers a leap ahead on any down payment savings.
So does that mean you should sell in the springtime? Maybe … but be aware that other sellers are going to have the same idea. There will be competition in the form of more homes available on the market.
Does the day of the week matter?
Actually, it might. According to a couple of different studies, homes that were listed on Thursday or Friday have been found to sell in the shortest length of time for slightly higher prices than any other homes.
It’s possible that the timing of the weekend is what’s honing Thursday’s and Friday’s edge over the other days of the week. Buyers are more likely to have time to schedule home tours or attend open houses over the weekend, and there are likely to be more of those buyers looking at each house (and therefore more chances of getting an offer, or maybe even multiple offers).
Timing isn’t everything
Even if you think you’ve nailed the absolute best time to sell your home and you’ve done all you can repair-wise to maximize your chances, there’s one big mistake that could shoot all your efforts right in the foot: Pricing your home incorrectly when you first list it.
Some sellers don’t think this is the huge deal that it really (really!) is. Serious buyers sign up to property watch lists and get an alert as soon as a home is listed on the MLS. Most of the buyers who could buy your home are going to see its listing within the first 48 hours of that listing being “live.”
So you get one big chance to make your home’s big debut in front of its buyers. And if you set the price too high (or too low, for that matter), you’ve blown it.