Is Winter a Good Time to Try to Sell My Home?

Traditionally many Louisvillians wait until the warmth of the Spring to place their home onto the market. The thought is that as the days heat up so does the Louisville real estate market. There is truth to this fact... The Louisville market historically is cyclical. We heat up until Derby at that point the entire town takes a week's vacation and then its back to business until mid July. At that point the real estate market peaks and then continues to slow through the Thanksgiving holiday. What many locals don't understand is the savvy benefits of putting their house up for sale during the cold winter months. However, many strategic minds are starting to understand the clear benefits of going against the grain. So why is it a good idea to put your house onto the market during the winter months? Here are a few current facts to keep in mind...

1. By going on the market during the winter sellers beat the pent up rush of homes that will come on in March. Remember the early lister catches the buyer!
2. There is currently twice as much housing inventory as we have in a typical market. But many of these homes go off the market during the winter. So, your direct competition can be as much as halved during this time!
3. Buyers are looking at 20-25 homes before they buy! This is unprecedented. Less competition means a more likely sale.
4. During the winter the buyers are typically more serious than at any other time of year. If they're looking at homes and it snowing outside you can pretty much guarantee a much greater sense of urgency. You'll have fewer lookers and more serious buyers viewing your home.
5. At present there is less discounted properties on the market. With the banks currently trying to correct their foreclosure proceedings, there has been a large supply of distressed properties that have not hit the market. No one can predict when this normal flow of foreclosure will strike the market again. Until that happens homes that are on the market will have a much better chance to sell and sell with a higher return on equity.
6. Interest rates are still historically low! The lower the rates stay the more house buyers can afford. Don’t take the risk of interest rates going up- get on the market now!!
7. Remember photography of your home covered in snow does not deter a winter buyer. Price the home to sell in the beginning and get the condition of the home right before you go on the market. Do this and your likelihood of selling with exponentially increase! 2011 is shaping up to be a very competitive year in real estate. Sellers need every competitive advantage to ensure a top dollar return on their home. In the end, a winter market is a perfect opportunity to differentiate your home and beat out your competition. And if you’re buying after you sell the pickins couldn’t be sweeter!! Make sure to visit our site at www.TheMilesTeam.com to find out more about listing your home and what the process is.