Should I try to sell now or wait until spring?
Therein lies the question as we enter the autumn and winter seasons in Charlottesville. This is the time of year when sellers planning to put their homes on the market in the spring start the process of getting their homes ready for the spring market.
Jonathan Miller pointed out a great article in a New York publication that neatly aggregates some very good responses to this question – “should I sell now or wait?â€ – all of which are summarized essentially by my default answer of â€œIt Depends.â€
Whether you sell now or wait depends on your goals, your flexibility, your timelines, your lives â€¦
A few things to consider:
- The market is seasonally slowing right now – fewer homes are coming on the market and fewer homes are going under contract. As a buyer this means less selection, as a seller this means less competition.
- If you decorate your home for the holidays, be prepared to re-take photos after the holidays â€¦ few things date a home’s time on market like Christmas photos.
- What’s the market like for your home right now? What’s it likely to be in January-March? What is your competition likely to be? Existing homes? New construction?
- Will the market for your home be stronger in the spring?
A few questions to ask yourself when debating whether to put your home on the market now or in the spring:
- If you sell now, where will you go?
- Where do you want to live?
- What happens if you can’t sell but find a place you want to purchase?
- What do you have to do to get your home ready for the market? Is it a short list or a long one?
- The holidays are by definition disruptive; are you willing to add â€œtrying to sell a homeâ€ to the disruptions?
- Are you already looking for homes? Here’s a few tips to search smarter for homes in Charlottesville.
My thoughts -
- Talk to a lender now, if you need one.
- Talk to a good real estate broker now to help you get a firm understanding of what your marketing strategy and price should look like
Above all, do what’s going to be most advantageous to you, while still maintaining a semblance of sanity. After all, we’re taking about your home; marketing and selling a home is by definition disruptive. Do what you can to minimize the stress and disruption.
Questions? Ask me . I’m doing quite a bit of consulting right now with sellers who are looking to put their homes on the market in Spring 2014.