People often ask me, “What is the best time of year to sell my house?” Without sounding too trite, the best time of year is, simply, when people are buying. And for the past year, they’ve been buying all year round. In Middle Tennessee, we’ve seen an upswing in property sales across the board, from million dollar mansions to starter homes to condominium sales. While remaining somewhat protected from the real estate bubble burst that most of the country experienced over the last several years, Realtors in Williamson County (and surrounding areas) acknowledged a downturn in sales and listings and are now celebrating a return to exuberant sales and eager buyers.
So… back to the original question. When is the best time to list your home for sale? There is no perfect formula, but there are pros and cons to listing in each season. Armed with that knowledge (and the ability to apply the same principles to your specific property), you’ll be able to make the best decision for your family and your home to maximize your home’s sale potential. Today, we’ll spend some time talking about the benefits and drawbacks of listing your home for sale in the fall.
The number one “pro” for listing your home in the autumn is that you get to take advantage of Mother Nature’s gorgeous palette. Take advantage of those colors by accentuating your landscaping with big pots of yellow mums. Did you know that yellow is the first color our eye processes? Many realtors suggest planting yellow pansies, mums or marigolds close to a home’s entrance to draw a buyer’s eye to an appealing entry. In fall, nature has done some of this work for you by painting your landscape in bright yellows, cool oranges and vibrant reds.
Cooler weather, a return to school and more structured routines, and bright vibrant colors are all reasons that many Americans say fall is their favorite season. They love the idea of nesting, making their home cozy for winter and embracing fall foods, smells and decorations. Simply put, autumn puts us in a good mood and gives many of us an optimistic outlook… all qualities that Realtors appreciate in potential buyers.
On the other hand, buyers often want to purchase a new home and get settled before school starts and holiday mania begins. This scares off potential sellers who think the only time to get a great price and move their home quickly is in the spring and summer. While it is true that we see more buyers during those “growing” seasons, there are still ways to turn the “con” of fewer buyers into a “pro.” Banks and mortgage brokers understand that home loans are in less demand in the fall, too and some of these lenders are willing to forego fees typically attached to the purchase of a home.
Many fall buyers think they’re in the driver’s seat when it comes to negotiation and sellers often see that as a negative. However, if you’re in a position to negotiate amenities, improvements and price you can hook those buyers looking for a great deal.
Happy home buying and selling, friends. Next week, we’ll tackle the pros (yes, there are some) and cons of marketing, listing and selling your home in the winter.