Why is now the perfect moment to sell your home
The summer and spring seasons are often thought of as the best time to sell your home. Sellers are putting their homes on the market, and buyers are keen to buy. As for the other seasons? Well, they get the wrong treatment.
Although seasonality is a fact in the real estate industry, it does not mean that listing your house for sale at any other time of the year is not a good idea. However, it appears this notion has been drilled into our heads over and over and over, causing homeowners to experience cold feet.
Once the school year begins many homeowners feel that they've lost their opportunity. "Buyers aren't looking at homes anymore", "My home will be left on the market", "I'll have to accept a lower offer." That's typically what you'll hear from homeowners who don't want to sell in the fall or winter. It turns out that there's more to a successful sale than selecting to list your home at the "busier" period of the year. Expert sellers know that a spring or summer sale doesn't guarantee a quick sale.
So, to set you off on the right foot, we're here to explain why listing your home during the fall or perhaps in winter might be the right choice for you. We'll dispel some long-standing myths about selling in the fall and explain why this is the ideal time to put your home on the market.
Myth #1: Spring is the ideal time to sell your product
Let's get this one cleared up first. Homeowners often believe spring is the perfect opportunity to sell their house. You'll get top dollar, sell your home fast, and everything will go smoothly. Why wouldn't you sell in the spring? The problem with this outlook is that (1) the fact that you list your home in the spring doesn't mean your home will be sold quickly and (2) there are other variables that affect how successful you are in selling your home. No matter what time of year you choose to sell your house, a professional REALTOR should be able to assist you in navigating the market and reaching your selling goals successfully.
The Truth most effective time to sell your home is not determined by the seasons. It's the result of a variety of factors.
Myth #2: Buyers aren't Looking For Homes During the Autumn
Many sellers believe that buyers stop looking for homes after summer ends, but this could not be further from the reality, especially in Illinois. While families with children in school may hold off buying until the end, they only represent a small portion of the marketplace. There are still plenty of buyers left in the summer market who are searching for homes and as the new listings begin to fall off, this could provide you with an advantage.
The truth: Savvy buyers are always searching for houses. Furthermore, the Illinois economy isn't going to slow down any time soon. It's actually expanding at a rapid rate, which is bringing more jobs to the region and more individuals looking for housing. The Illinois Workforce Commission shows Illinois keeping a record low unemployment rate of 3.4%, citing a strong economy, employer growth, and an expanding industry, all leading to a rise in the population.
Myth #3: Selling your house to make less money is a lie
Home sellers are often reluctant to list their homes in the fall because they're afraid they'll be compelled to accept lower bids but in reality, the opposite is true. This fear is based on the notion that fewer buyers are looking for houses, a misconception we have already busted. However, smart sellers understand that they can leverage this information to benefit themselves.
The Truth: Because many sellers believe these myths to be a reality, fewer people list their properties during the fall and winter seasons-which implies less demand. Less supply means less competition since there are fewer homes to select from. If there is less supply and the demand for housing is rising as we've been told it will be and it is, then buyers who are on the list have an advantage. Higher prices are the result of increased demand and a decrease in supply.
Myth #4: Homes stay on the Market for Longer
Sellers typically hold off until spring to sell their homes. This is because of the worry that their house won't sell by fall. However, the reason houses don't sell in fall or winter isn't because of seasonality.
The Truth about home prices is often determined by three factors such as pricing, presentation, and inflexibility.