Everyone has heard about "the Spring Market" when it comes to real estate.  But like everything, there are pros and cons. We've been with pre-listing consultation meetings recently and have been discussing some of the top reasons you should NOT wait for the traditionally popular "Spring Market." Rather, the first 90 days of 2011 could be the golden opportunity you've been waiting for!

  1. Interest rates have spiked up.
    Rates have jumped over 1/2 point in the last several weeks.  This is a short window of opportunity. If rates fall again, buyers will jump back on the fence. If rates continue to rise, it limits the number of buyers who can qualify at each price point.
     
  2. If you are moving up, you can save thousands.  If your goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams a at bargain basement price, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.
     
  3. During the winter months, the buyers are serious.
    There is very little (if any) sense of Buyer urgency with the supply of eligible properties at all time highs. However, at this time of year, the 'lookers' are either staying warm indoors or just busy with other priorities. The home buyers left in the market are serious and are more apt to buy. Less showings - but to more motivated purchasers.
     
  4. You beat the rush of inventory that is coming next year. 
    Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. Here is the number of listings available for sale in 2010, across the country: 

    January - 3,277,000 
    February - 3,531,000 
    March - 3,626,000 
    April - 4,029,000 

    We think that there is a pent-up selling demand (homeowners who have held off selling over the last year) that will lead to an increase in these numbers this spring. You won't have to worry about this increasing competition if you sell now.
     
  5. You have less 'discounted' inventory with which to compete. 
    This year, sellers of non-distressed properties have been given an early holiday present. With banks trying to rectify their foreclosure procedures, there has been a large supply of discounted properties removed from competition. No one knows how long it will take banks to return to the normal flow of foreclosed properties to the market. However, until they do, every homeowner has a better chance of selling their property.

There IS a strategy to selling. Our pre-listing consultations are free of charge and without obligation, so if you're trying to figure it out on your own, that's just plain silly!