Selling a House in Summer: Better than Spring?

You may or may not have heard that the so-called “Spring Market” is the best time to sell. Starting as early as January, Realtors start to contact home owners to sell them on the idea of selling their homes as soon as possible. For Sale signs pop up well in advance of the first flowers of spring. By March, there is always a great selection of homes to buy. So, should you add yours to the inventory? If you can’t get your house ready to sell until June or July, is it too late?

In fact, the best time to sell your house is very personal, because you’re not simply making an investment transaction. Your home is special and there are special considerations. The timing of your move will have many influences.

If you own a home and will be buying a new one, will it be a larger or a smaller home? Will it be an inter-generational home? Will you be moving into the same market, or out of town? Will children have to change schools? Are you moving because of a change in your employment or health? People have to move all the time for all kinds of reasons.

If you’re selling and not planning to buy another home, say you’re moving in with one of your children or into a retirement home, the timing of the sale of your house will have different influences.

The excitement of the spring market might not appeal to you. The greater number of homes on the market can mean tougher competition, fast decisions, and higher prices. And, higher selling prices mean higher buying prices, too.

A slower pace in the summer can be beneficial. You can wait for the right buyer to come along with the price you want. If the prices drop after spring, a slightly lower selling price can mean a lower buying price, and a lower mortgage.

Your house might look spectacular in the fall when the maple trees in your neighbourhood are in full colour. Or maybe it’s at its best in the winter, with a fire in the fireplace and a wreath on the door. Your not-so-perfect yard looks perfectly fine covered in snow. Maybe you can wait.

If you’re thinking about selling, talk to Harry, Your Friendly Realtor. Before you’re ready, before you start staging, have a patient and knowledgeable professional come over to look it over and to help you think it over. Each situation is unique. A good Realtor will understand and help, not judge or pressure you. Your home is important and your individual needs are important. Harry will make sure you understand what you're getting into and will make the whole process as stress-free as possible.

Sell or Buy First?

Sell first and then buy. 

When people think of moving, they'll often call me and ask to see a bunch of homes. They just want to have an idea of what's out there. We're just shopping around. Most often, it's a waste of time for them. (Not for me. It's always a good experience to see homes. I can recommend things to other buyers.) 

When you go house shopping, you need to have your finances in order. If you already own a house, then your money will probably be tied up in that. Once you sell your house, the market will be different. 

Let's say you're shopping around while you're just thinking about moving and you fall in love with a house you see. How will you be able to make an offer on it? You can make a conditional offer. If there's another offer without the "sale of buyer's home" condition, then they won't choose yours. Let's say yours is the only offer and they accept it. Do you really want to sell your house under that kind of pressure? Can you get the most out of your present home if you are pressed for time? 

Take your time to prepare your house for sale. Get top dollar for your investment. Then, go shopping with the power to offer the strongest bid. 

Don't Do the Spring Cleaning on Family Day

There are lots of opportunities for staying indoors and organizing and cleaning in the winter, especially this winter! Clean out the closets, the storage spaces, the garage. Spruce up the kitchen and bathrooms. Have the draperies and carpeting cleaned. It's a great time to prepare your house for sale. Spring is around the corner (really!) and the housing market is going to pick up and take off soon. A long weekend is perfect.

But, I hope you didn't spend the long weekend doing any spring cleaning. Family Day is for having fun with the family. I hope you went out ice fishing or skiing, skating or shopping.

Today is the day after Family Day and we have another foot of snow.

Today, you'll be able to stay in and clean out the hall closet, or take a look at the kitchen cupboards (maybe you could update the hardware, count the handles). This weekend, you can paint the laundry room and fix the leaky faucet.

When you're ready, give me a call and we'll get your house on the market and find something better for you to move into once the snow is all gone.

Call me now and I'll give you some tips on what you can do to get your house ready to sell without too much time and effort. 

January/February Good Time to Sell, Really

You'll notice that the For Sale signs have started going up and the Real Estate Agents are sending more flyers.

January is the beginning of the Spring Season, believe it or not :-)

If you're aiming to move in April or May, then you sell and buy now. The market is picking up, but it's not yet super-busy. That will start in March (June and July closings). So you have people's attention now, your Realtor's and the buyers who don't have too many choices yet.

So, this is a pretty good time to sell your house.

With all the snow and harsh weather, you might think that it will be hard to make your house look its best, but the darkness and cold mean that it won't be too hard to make your house look like a warm and cosy home. Spruce up your lighting, turn up the thermostat, bake some cookies and invite buyers in. Just make sure the driveway and walkways are clear.

There's lots of advice online for selling a house in the winter, like this one, Home Selling in Winter. And I, Your Friendly Realtor, can make some suggestions too.

Together, we can sell your home for a great price and get you into something better for the Spring.

Best time to buy or sell

As a real estate agent, I’m always getting asked about when the best time to buy or sell a house is.

·         Is this a good time, or should I wait?

·         How is the market?

·         Is it a buyer’s market or a seller’s market?

·         Will interest rates go up or down?

·         Will my house be worth more in the spring?

·         Will my house sell faster if I renovate the kitchen first?

       

Some people think I’m a fortune teller! But, seriously, it’s hard to predict the market. I will honestly tell people what I know, what people in the real estate market are saying and what the newspapers say. It’s my job to keep up to date and knowledgeable about my industry.

But, I’m the friendly real estate agent, “Your Friendly Realtor” -and the honest real estate agent. I will also tell you:

The best time for you to move depends mostly on you!

The best indicators for the best time to move are your needs and wishes.

·         Do you want to be in your new home before Christmas?

·         Do you want to be in your new home before the school term starts?

·         Will you need to take some time off from work to move?

·         Do you want to move before it starts to snow?

·         How long will it take to sell your present home?

·         How fast can your home be ready for me to take pictures, and ready for an open house?

People buy and sell homes all year round, every day of the year. Someone might need to move because of a job transfer. Someone has to move because of a death or illness. Some retirement homes and nursing homes have waiting lists that don’t give folks much time to respond (It’s now or never, as Elvis sang.).

You could be just thinking about moving when a perfect house comes on the market. If you really want it badly, you might be willing to agree to a closing date that’s not at a perfect time and puts you under pressure to sell your present home quickly. But, if getting that perfect house is what you really want, then you’ll do what you have to do to get it. If it’s the best home for you, then it’s the best time for you.

When we work together to sell and/or buy a home, my first priority is to find out what your needs are. You are the most important factor, not the economy. I can help you to determine what those needs are, as people aren’t usually aware of all the variables. I’ve got experience that will help to guide you.

If you need to move quickly, I’ll do what I can to make it fast and smooth, and get you the best deal possible. But, if you want to take your time, I will wait with you. We can look at houses for as long as it takes to find you that perfect house- the one that fulfills your needs.

Interest Rates

Surprise!!! Surprise!!!  The interest rates remain untouched today but "they" still warn us about future rises!

Going back to 2010, "they" said the economy was too weak for a rate hike and the cold dark days of 2009 were still fresh in our memories. Too many folks had lost their jobs, closed their businesses and gone bankrupt in 2009.

However, as if by MAGIC, and after having a sunny and warm February, "they" decided to hike the rates anyway!

All those promises of not touching the rates until the Third Quarter simply went out the window in an instant. The results were quietly catastrophic!

More businesses suffered and fewer people found jobs. The weakening of the US Dollar resulted in the strengthening of the CDN Dollar which didn't help our manufacturing sector at all. The real estate market did not cool off as "they" had predicted either!

This year "they" seem to be smarter and are keeping their hands off the interest rates in hopes of stimulating the economy for real.

Having a Majority Government must have helped this decision if you ask me.

People are still buying and selling homes in the GTA, York, Peel, and Durham Regions and although activity level has gone down somewhat, home prices have not gone down.

I am no expert in financial matters, but I have learned not to listen to "them".

Just like the Weatherman, "they" can be wrong everyday without fear of losing their jobs!

So do what is best for YOUR family: If a move will help the quality of life for you, then just do it, and in my humble opinion, interest rates cannot go up that much in the near future (:-D