These questions comes up every early winter/late spring. 

"Should I sell my house now or wait until later in spring or summer?"

"Will I get more $$ for my home if I wait until spring to put it on market?"

"Aren't there more buyers later in the year?"

 

Let's address the first question...holding onto a property in hopes of gaining more profit. 

Sometimes homesellers let me know they had their property on market, and took it off if it didn't sell during the summer.  They decide to sit on the house until winter is over, in other words, carrying the costs.

One thing we've learned over the past decade is that prices go up (like they are doing now in our market, but they also...go down.  We all remember the pain of the recession, whether we were caught up in the real estate downturn or not.  It affected everyone.

So, why assume that late spring, or summer, or next year will bring higher prices? 

Some things to know:

1.   Time on market doesn't always start back at zero. 

Agents with MLS access can view the history of a property, and easily track when it was last on market, for how long and how much.  Gone are the days when it was possible to reset the clock and put it up as a new listing.

2.  Sitting on a house costs money:

If you are living in it or using it as a rental or vacation home, you understand that.  But, if it's sitting empty waiting for that offer, the taxes, insurance, utilities, mowing, snow removal, mortgage interest and other costs just keep coming.  Add those up and divide by 12 and you get your monthly carrying costs. 

At some point, these carried costs with eat up whatever potential increase in sales price you get.  Let's not even talk about the stress of waiting for it to sell.

3.  An empty house is harder to sell:

Sure, staging a place and removing the clutter is ideal, but empty?  Furnished homes show better than empty ones, no matter how you slice it.  An empty house is often an opportunity for a buyer to bargain. They see you've moved on, and make assumptions, often in the form of a lower offer.

4.  The cost of a mental shift:

You've found the next place to begin the latest phase of your life, whatever it is.  Think about the emotional energy, plus the drain on your wallet.  All for a chance that it will sell for more if you wait?  Not many of us move on to a new home or life, and then spend time reminiscing in the old, empty house wishing we could move back.  We just want it sold!

Contact us for info on staging, your home's value or any other questions you have.