Real estate legend has convinced many people who need to sell their house to "wait until spring" to put it on the market. One of the reasons given is that the exterior of the house shows better. So does every other house, which negates any competitive advantage for spring showings. Another reason is the thought that buyers with school age children would not buy until it's near the end of a school year. However, there is a very large segment of the population that does not have school age children living with them. In addition, relocating families move all times of the year. The two major reasons given for waiting are not significant factors.
The real issue for not waiting for spring is how the real estate market works. With real estate as a commodity, when inventory rises, a downward pressure on prices arises. Belief in the fallacy of waiting until spring causes an influx of homes on the market at one time. With more inventory of homes in the spring, buyers have more choices and offer lower prices than they would when inventory was lower.
For buyers, now is the time to act with the combination of incredibly low interest rates and government incentives. If you or anyone you know would like to discuss the realities of the real estate market with me, please contact me.
No comments:
Post a Comment