Brace yourself for the winter market

“Should we talk about the weather?” From your next door neighbor to the band R.E.M., everyone is obsessed with the weather. Especially in New England we never seem to tire of the topic and for anyone thinking of buying or selling a home, watching the weather is important for more than just knowing what shoes to wear.

Home sales are very seasonal. Starting in September or October every year, home sales begin a cycle of decline that won’t start heading up until April. Home buyers get busy with the holidays and only the most hardy souls will venture out to look for a home in the cold and ice of a New England winter. Seasonal Home SalesHome Sales in Winter

So what does this mean to you? If you’re thinking of selling your home, your best bet is to wait until things pick up again in March and April. If that’s not an option for you, the sooner you can get your house on the market, the better. This year, many buyers are still hoping to be able to close by the November 30th deadline and get the $8000 tax credit so you have a small window of opportunity.

Use an aggressive pricing strategy. Introduce your home to the market during a weekend open house, preferably one with a favorable weather forecast. Your realtor will help you to price it at just under the selling price of comparable homes. If it is handled correctly, you could have an agreement to sell the house at on or near your asking price in just one weekend!

It’s important to listen to your real estate professional and to take her advice. Many buyers insist on putting their homes on the market during the cold weather for too high of a price and end up selling them in the spring anyway – for well under the original asking price.

For buyers, if you’re willing to potentially move during the holidays or in bad weather, the rewards can be huge. Most sellers that can afford to do so, will take their homes off the market before Thanksgiving and put them on again in the spring. The remaining inventory will usually consist of homeowners that need to sell, so the prices will be lower and the sellers potentially more open to offers that are below the asking price.

Right now, both buyers and sellers are racing to do deals before the snow flies. If you’ve been thinking of buying or selling a home, give the real estate professionals at Phoenix Realty a call. We can help you make the decision that is best for your unique situation.

Photo Credit: marci-spokane.com

Thursday, October 22nd, 2009 Boston, Boston First-Time Home Buyers, Boston Homes, Boston Homes for Sale, Boston Real Estate, Buying or Selling Homes, Real Estate News

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