ERA Justin Realty Demystifies Winter Home Selling

The leaves have fallen the weather gets colder, homeowners often shudder at the thought of selling their home in the winter, out of fear that there will be fewer buyers, their home will look less attractive and will command a lower selling price than in the spring time. Following are the 4 most common myths as well as the truth about selling a home in the winter, as reviewed by Cathy Vick ERA Justin Realtor sales professional.

Myth #1 If I wait until the spring to sell my house there will be more buyers and more competition for my home.

TRUTH: “There really is a limited spring market anymore,” according to Vick, “since most markets are interest rate driven.” “Interest rates are currently low, and that is what motivates most buyers. So, now may be your best opportunity as listings are also fewer as your competition.”

Though you may get more foot traffic through your home in the spring, a good portion of these people may be just “lookers.” According to Vick, “In winter you may have fewer showings, but you tend to get more serious and qualified buyers because few people like to spend an afternoon browsing through homes when the weather is cold, rainy or snowy. Many “lookers” wait until the spring.”

Myth #2 “My house will sell for a higher price in the spring” or “Since the economy has begun to improve, I’ll wait to get an even higher price for my house in 2015.”

TRUTH: Home prices of 2014 may not continue to escalate in 2015, always an unknown. We know what the economy is like now. With political worldwide uncertainties, there is no way to predict what lies ahead in the spring of 2015. “A significant benefit of winter home selling is that there is less inventory at this time of year, which translates into less competition amongst listings,” states Vick. “Remember, it only takes one buyer to purchase a house, and sellers establish the price that they want to ask. Houses that are well decorated, updated and in move-in condition always move rapidly, she continued.

Myth #3 My house looks better in the spring when the trees have leaves and the flowers are blooming.

TRUTH: Remember, the playing field is level in whatever season you choose to sell your home. In the spring, everyone’s house has blooming flowers and trees. Do not discount the benefits of winter selling. Holiday decorations and the wonderful aroma of food, roaring fires and scented candles are very attractive to buyers.

Myth #4 Since I need to move in the spring, I will wait until after the winter to sell my house.

TRUTH: Winter home sellers can choose a closing date in the spring, which can benefit both the seller and the buyer. The seller, knowing that their house is sold, can go and buy a new house, without pressure. The buyer benefits by having the necessary time to sell their old house.