“When is the best time to sell my home?” is one of the most common questions that I hear. I hear from potential clients, people in the grocery store line and pretty much everywhere that the “time to sell” is in the Summer time. It’s a common myth because, let’s face it, someone else has told them that whether it’s their parents, neighbor or a part-time agent that doesn’t know any better.
Sure the Summer time is convenient to sell your home because you don’t have the schedules of schools and sporting activities but you also don’t have the luxury of competing against very few houses. What homeowners don’t realize is that in the Summer time, you’re competing with all the homeowners who find it a convenient time to sell or who are also misinformed that think it’s the best time to sell.
I am letting you in on a little-known secret, the first and last quarter of each year is the prime time to make top dollar on your home. There are several factors that play into this but here are the main ones: Relocation buyers, less competition and historically low-interest rates during these times of the year compared with Q2 & Q3.
Relocation buyers are often moving in the last and first quarter of the year as employers tend to bring on new employees then. Often times, because they aren’t local and are also busy coordinating other details of their move, relocation buyers don’t have the luxury of time to look or time to haggle. This poises the homeowner to be in a better position for negotiating and also for the potential buyer to stop viewing other homes after they find a home that could be “the one” because quite frankly, relocation buyers are exhausted. They have a lot on their plate and while purchasing a home is important to them, they’re more willing to pay a little more for it to ease the headache of the purchase.
Another factor that plays into this is that there is little competition. Unless people have to sell, fewer homes are listed during the last and first quarter of the year. This means that the buyers that are ready to purchase have fewer choices to choose from. The relocation buyers will, of course, find something and purchase it but there is a pent-up buyer demand in our market so there are schools of buyers that are sitting back, waiting for the right home to come on the market so they can jump on it. Because these buyers often times are in temporary housing or in their current home, they’re also more flexible in terms of closing date to allow you enough time to find a new home as well. This is where the agent that you choose comes into play. You want someone who is truly your advocate for what’s in your best interest, not what’s in their best interest of a sooner pay-day. A great agent will negotiate hard for you on the items that matter most to you and a large part of that is the time you will need to get set-up with your new home.
The cherry on the sundae for both the buyer of your home and your new purchase are the interest rates. They’re currently at historically low numbers which is exciting. But also because, more homes are listed thus attracting additional buyers to the market, the Fed appears to raise the interest rates in the Spring and Summer over the Fall and Winter. This helps you afford more home when you purchase and also attracts more buyers to your home.
If you’re thinking about selling your home and would like to find out how much it’s worth, send me a message at AngelaSellsDFW@gmail.com. If you don’t live in the Dallas/ Fort Worth area, I belong to a network of the top agents around the country and world so I would be happy to recommend some agents in your area for you! Just ask!