Spring Into Profit – Why Now May Be The Perfect Time To Sell Your Home
It’s that time of year again … After such a harsh winter it “appears” we may be able to start enjoying some warmer weather as temperatures begin to rise! That’s great news in general … but for the real estate market – even better! Soon we will see flowers blooming and the grass will no longer be white – LOL. That being said, … things will start heating up around here, literally, and so will the real estate market in Northern Fairfield County. Spring season is not just a change in weather—it is a change in the market, signaling that now may just be the right time to sell.
While national headlines across the country hint at a cooling market, remember to “think local”. Here in Fairfield County, we are still looking at a strong seller’s market. Buyer demand continues to remain high, and inventory still tight, creating an ideal environment for you to maximize your home’s value. Whether you purchased your home many years, ago, or just a few years ago – you may be pleasantly surprised at the equity value you hold in your home. Whether you are looking to upsize, downsize, job relocation, or move closer to family – having good equity in your home will certainly give you the flexibility to move on to your next chapter with a little more ease.
Here are just a few key reasons why you may want to consider listing your home this spring …
Motivated Buyers
Listing your home this spring allows you to tap into a significant backlog of motivated buyers who have been sidelined with low winter inventory. By positioning your home now, you can capitalize on intense buyer motivation which will drive more competitive offers.
Spring traditionally marks the peak of the real estate market, as buyers rush to secure a home before the next school year begins. In our local market, this motivation is amplified by a critical factor which is the scarcity of available homes. As I always like to keep a pulse on our market, I’ve spoken to several REALTORS® of late, who have had listings recently go under contract and posed the following question to them. “Was there a lot of buyer activity/interest on their listing, prior to seller accepting an offer?” Many responded – Yes, and most said they had multiple offers, with many of those offers going over asking. That just speaks to the state of our market, as those buyers are still out there looking for “their place to call home” – looking to be that buyer whose offer was accepted by the seller. The lack of inventory is what is keeping prices stable in our area. Many who know me, know that I will always say … “We only know what we know now – and that we have no way of knowing what tomorrow will bring.” That’s just a fact!
While as a seller, you have significant leverage in this market, maximizing your net profit requires a strategy. So, we don’t want to get overly confident, thinking you can price your home at any price you want. The market is still the market and the key to netting the most value for your home, is to strategically place your home in the market to gain the most buyer interest to secure that best contract. That’s where I come in. Sellers should understand that while it is still a seller’s market, pricing your home strategically is what will give you the best price, with the most suitable terms that work for you. Yes, you may see listings that have taken price reductions … that is because they did not price the home correctly right from day one, losing the seller time and money, I always tell my clients – don’t get hung up on the list price. It is creating that buyer interest/excitement that will ultimately net you the most value for your home.
To sum it up …
Confidence, Not Overconfidence: The market is the market—and that means we can’t simply name any price. Strategic pricing is the most critical tool for netting the highest value and securing the most suitable terms.
Less Competition, More Attention: While spring market is traditionally known to have more inventory, then any other market – we still have limited supply that does not satisfy buyer demand, with fewer properties to choose from, your home stands out. Buyers are more likely to compete, driving up the final sale price.
Strong, Clean Offers: Serious buyers are prepared to move quickly and offer attractive terms to win in a bidding war. We are still seeing offers that go above asking, (providing the home is priced correctly) often with significant cash down payments and reasonable inspection terms. It is important to note, that prior to any offers being submitted to the seller, it is the job of the buyer’s agents to always ask the listing agent a few key questions, such as … “What can you tell me that is most important to the seller that would make their buyers offer shine above all the others? What is their desired timeline to move?” When submitting your clients offer – the more information you know about the sellers wants/needs as a buyer’s agent – the better you can help structure their buyers offer that would be most appealing to the seller, to ultimately accept. Within the buyers means of course. While price is certainly most always TOP in the ranking, other terms may be just as important to the seller as well, but you would not know this unless you asked.
Close on Your Timeline
In a seller’s market, time is often on your side. The strong demand means your home is likely to sell faster, allowing you to plan your next steps with greater certainty.
Faster Closings: Motivated buyers, are ready to close on an expedited timeline, such as a 30-day closing often seen in competitive offers, should that be the desire of the seller.
Less Time on Market: The days of waiting months for an offer are behind us. Listing now means capitalizing on peak seasonal demand before inventory has a chance to rise later in the year.
The Power of “Curb Appeal” is at its Peak – and yes, curb appeal still matters no matter!
It is your very first showing before a potential buyer even walks in the door.
The season itself is working in your favor! The lush, green backdrop of spring instantly boosts your home’s aesthetic appeal. Everything looks prettier in the spring, right?
Picture Perfect: Professional listing photos taken with blooming gardens and green lush backdrop, clear skies, and bright interiors make a powerful first impression online.
Ready to Show: Open houses and showings are simply more appealing when buyers aren’t trudging through snow or gray weather.
Ready to Make Your Move?
With the combination of low inventory and high buyer demand in our local area … makes this spring one of the most opportune times for sellers to list their home.
Ready to take advantage of the market and achieve your real estate goals? Give me a call. I would be happy to provide you with a complimentary home valuation, so you understand your current homes value and discuss a plan forward should it make sense for you to “make the move”.
If making a move now, is right for you … let’s, Spring into action, and make this your most profitable year yet.
Laura
The Key To Your Real Estate Success
Helping buyers and seller achieve their real estate goals