I get this question a lot. Especially as of late so I thought I would answer it here. When is the best time to sell a home? Well the answer is not that simple as we know there are a great many factors that contribute to a successful sale. But if we were to just generalize and make the assumption that all things are equal when would it be best?
Many would suggest the spring time. This assumption comes from the fact that everyone else is doing it so it must be the right time. Actually it is because of the families that want to be able to close on their new home and have their kids (assuming they them) start going to their new school the first day of school. For many this isn’t imperative. Nonetheless folks still rush to get their homes to market in spring. Since of course everyone is doing it.
What is the last thing you want as a seller? The answer is high interest rates but that aside, what’s the next last thing a seller wants? Competition. The worst thing is competition. If you have the only 3 bedroom 2.5 bath house with a garage (for example) on the market at a particular time you are “large and in charge”. You own that place in the marketplace. You can almost name your own price and terms without resistance. Even if you are one of two or three there is bound to be something that makes yours special and its up to your friendly neighborhood, very experienced, Realtor to point that out in the marketing plan.
Take that same home in spring for example and you may become one of five to seven identical houses in town and you just lost your advantage. Gone. Each of you will continue to lower your price to beat out the other and conform to the buyer’s various terms and conditions.
This same philosophy applies in the stock market. For some reason everyone buys when the market is going up. Why on earth would you do that? Some people just have to do what everyone else is doing. You should be selling high when everyone is buying and buying low when absolutely no one wants the stock. Don’t we all try to buy things when they are on sale? This is topic for another blog post but back to my point. In business never follow the leader. You will get crushed.
The fall and winter can be a great time to sell your home as there are not as many homes on the market and your home will stand out by being original, unique, and have less competition. If you have been wondering when you should sell. Let’s talk.
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Vice President | Broker Manager
Better Homes and Gardens Real Estate | Coccia Realty
11 Park Ave | Rutherford, NJ 07070
Office: (201)939-0001 | Fax: (201)939-0043
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