Trying to Time the Housing Market
As a Seller you probably spend a lot of time and energy strategizing about how to sell your home for top dollar.
Or do you?
Do you factor in buyer demand, competition, current job market, mortgage market, recent home sales and your agent's marketing skills?
Most just have a frame-of-mind that they want to sell when the market is hot. Sometimes they just play it out as a waiting game until they feel buyers are sufficiently ready, willing, and able to pay a good price for the property. One timing consideration that sometimes gets overlooked is—the calendar.
Truth is, regardless of the time-of-year, there couldn't be a better time to hire Team Hardy to market your property. Our marketing tools will give you the edge, regardless of when you hit the market—hot or cold.
Is there such a thing as timing the market?
It’s always the season for home sales in Omaha. But, just like there's a season for everything else, the home sales calendar indicates various shifts in Buyer activity. If you're gearing up to sell you should understand how these shifts play-out and discuss with your Team Hardy agent to discuss how you might want to factor that in to your home's marketing plan.
If your still looking to hit the market at the perfect time, here are some calendars to consider.
1. School Calendar
Many families with kids in school often find it less disruptive to house hunt in the late spring and early summer. Their goal is simple, move-in before school starts. Of course, we all know what they say about the best-laid plans, so by no means should you let them stop you from listing your home any time of year. Just know that demand for homes with the convenience of proximity to great schools can make a big swing in the summer months when the kids are on summer break.
2. Tax Calendar
Many unmotivated, tire-kicker-type buyers we've worked with over the years suddenly get motivation from a looming tax bill. For instance, many new professionals will seek to close escrow on homes between the time they graduate and the end of that same year, in an effort to deduct closing costs and mortgage interest from their new, large income. All in hope of avoiding a big tax bill the following April. Similarly, just after April’s tax time, a flood of newly-motivated buyers come into the market, advised by their CPAs that the mortgage-interest deduction is their best bet for not having to write a big check to the IRS next year.
Fortunately for sellers, more buyers and more motivation means more demand and, all things being equal, translates into a faster sale and higher price than other times of the year.
3. Weather Calendar
Sellers that live in cold climates are aware that winter weather conditions can dramatically cut down on the number of buyers. This is why searches peak in January in warm-weather states and after the spring thaw in the colder climates, including Omaha.
What's not as obvious is the combination of what's happening with the weather and specific features of your home that interact to impact your home's sale, and its ultimate sale price.
Behavioral economic researchers know that homes with pools sell for more in the summer. When it is sweltering outside, a swimming pool can look pretty attractive. If you're selling your house with a pool in the winter make sure the pool house is staged with towels and it feels like summer.
4. Holiday Calendar
During the holidays, many buyers prefer to spend their downtime celebrating with family and friends rather than house hunting, especially in the cold weather states where it can be downright cold and snowy.
November and December are typically the slowest months for home searches but with the right house, at the right price, anything can happen.
Does that mean the holidays are a bad time to have your house on the market? No. Some homes show beautifully when all lit up for the holidays. Truth is, there are plenty of buyers motivated to close by year's-end for tax reasons in any market. While buyers might be fewer in number, those who brave the weather to house hunt can be some of the most motivated buyers of all.
5. Western Calendar
January isn't only a time for New Year's resolutions to lose weight. Buying a home ranks on the list, too. Home buying tends to be popular among those with money on their minds at this time of year and also among people looking at a promotion, starting a family or relocating.
Be sure your home is well presented with Team Hardy. When these life and financial change visionaries start searching the web for their next nest, you’ll be ready for them.
6. Mayan Calendar
Meh. What do they know? Their calendar ended and we're still here.
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