One of the most frequent questions we hear is "When
should I put my home on the market?"
The correct answer is "It depends."
It's true that the spring market has typically been the time when your home will show its best - the azaelas are blooming, the yard looks lush and the weather is warm which draws more buyers into the market. The issue is that this is the time of year when your COMPETITION is thinking of selling too! It's said that pricing is based on a MOMENT in time - this means that the value of your home is dependent not only on what has recently sold nearby but on what the CURRENT inventory of homes are at the time you are trying to sell your home. Will your home and its price help to sell YOUR home or your NEIGHBORS home that's on the market?
Focus on what YOU can control - YOU can control the condition of your home and how it shows and YOU can control the asking price of your home. You CAN'T control what your competition will price their home for or what offer they will accept. You can't control bad housing news, the financial market and consumer confidence. If you don't like the reality of where the market is price wise you likely will have a CHOICE to make - whether or not you will sell your home in the current market or wait for it to improve.
We have listed homes in between Thanksgiving and New Years (often cited as the slowest time of the year) and sold them because we were in the right place at the right time and there was the right buyer ready to make a move. We remind Sellers that during the harsh winter months and hottest summer months you get QUALITY over QUANTITY - there may not be as many people looking these times of the year but those that do are typically more serious buyers. It's easy to get caught up with the glee of having 30+ groups to an open house on a lovely, spring Sunday, but many are likely not serious prospects for your home.
The reality is NO ONE can predict for sure where the market will be in a month, six months, a year or longer. If current competition is low in your area, your home shows well and you are prepared to price it fairly, NOW is the best time to sell your home...not in a month, or spring, or "soon". Call an agent knowledgeable about your market and start the process - interest rates are still fantastic, lending requirements have started to loosen and consumer confidence and market news is positive. Good luck!
The Banner Team/Long & Foster Realtors
#1 Agent in the #1 Office of Long & Foster Realtors since 2010
The Banner Team has sold and settled over $100 Million YTD in 2012
Specializing in Bethesda, Potomac, Chevy Chase & Washington DC
Licensed in Maryland, DC & Virginia