Summer doesn’t end until September 21st, but for many, summer ends with Labor Day (this year September 4th). With kids heading back to school and summer vacations over, the real estate market usually sees an uptick in September. More listings come on the market so it’s a great month to buy a home. And if you’re on the edge about selling, we should get your home on the market soon before the market slows down for winter.
To talk about your real estate needs, give me a call/text at (206) 790-0081 or an email to Jamie@JamieFlaxman.com.
It’s fall in the northwest – rain, leaves on the ground, pumpkins creatively carved in front of houses – and a quieter time of year in the real estate market. November through February typically see the smallest number of home sales, but let me share with you why I think this is a great time of year to both buy and sell a home.
Great Reasons to Buy Now
- If you close on your transaction before the end of the year, you may benefit from on your 2015 taxes as you’ll be able to deduct any mortgage interest paid as well as any points paid and property taxes.
- Fall/winter offers you an opportunity rarely seen in summer – the opportunity to see if there are any water intrusion problems with a house. With frequent and sometimes powerful storms, if there are any water intrusion problems, they’ll be more likely to show up on a home inspection or to the naked eye.
- Think about it, celebrating Hanukkah, Christmas, Kwanzaa, and/or ringing in 2016 in your own place.
- Interest rates are still incredibly low, below 4%, and no one at this point can predict when that will change. Lock in your record low rate right now.
Great Reasons to Sell Now
- Inventory is at it’s lowest this time of year. With less inventory, there’s less competition yet you are more likely to obtain a higher price for your home. And there’s research to back this up.
- Serious buyers are out there shopping. Many buyers frustrated by the multiple offer market come back during winter when there’s less competition.
- With interest rates at record lows, buyer affordability is higher. Sell your home while rates are down and buyers may be able to pay more.
- Get a fresh start to the new year. A new living situation may be just the way to start the new year.
For more information or to discuss your real estate needs, contact me at (206) 790-0081 or Jamie@JamieFlaxman.com.
Many prospective sellers feel they should wait for spring to sell their home. They feel this way because of the seasonal downturn in the market and because homes don’t look as good without exterior flowers and plants and the general grayness of our part of the country. However, there are several good reasons to list your home during the winter. The most serious buyers will still be out there – those that need to buy because of job relocation or need different space. And inventory is at it’s lowest, giving buyers fewer choices, so your home will stand out more. Mortgage rates are expected to increase in 2015, so buyers may have greater buying power earlier in the year.
Real estate company Redfin analyzed homes listed from March 22, 2011 through March 21, 2013. They found that those listed in the winter have a 9% greater likelihood of selling, sell a week faster, and sell for 1.2% more relative to list price than homes listed other times of the year.
To sell your home in the winter, there are some key things to do. Keep your home warm and cozy – buyers need to be comfortable when they come in the house and the warmer it is, the more likely they’ll stay longer. Leave lights on and shades open to keep the home bright. Make sure the yard stays neat and the roof is clean. Stage the home and have professional photographs that show off the home at its best.
Thinking about listing your home this winter or spring. Give me a call or email to discuss a complimentary market analysis and marketing plan for your home.