A simple Internet search brings out all kinds of myths about when homeowners should sell their homes. Invariably, spring comes out on top. For a comprehensive answer to the question, “Why is spring the best time to sell your house?” we’ve decided to get a documented opinion from real estate specialists. Here is what we’ve found out.
Most potential home buyers are looking for homes in the spring.
Many home buyers, especially those with children, who intend to buy a house prefer to complete the purchase process and settle into the new home before they start their vacations. Once summer kicks in, many families with children are preoccupied with other things, such as choosing that perfect holiday spot, and then dealing with school registrations. In addition, who wants to be packing and loading a moving truck in a hot summer day?
People have more money in the bank.
Another point that provides a valid answer to the question, “Why is spring the best time to sell your house?” is that people get their tax refund checks during this season. Though a tax refund won’t affect the ability of a prospective buyer to purchase a house, that extra bit of cash can easily persuade people to pay the full asking price and even go above it for a home they really want. Since many buyers are looking to close a deal during the spring, sellers can get a better price.
Home prices go up, irrespective of inventory levels.
Unlike other markets where supply is inversely proportional to price, in the housing market prices are higher in the prime season, regardless of inventory. That’s because the housing market is a seasonal market, with the highest supply and demand levels during the spring and summer. Evidently, low housing inventory increases housing prices even more, making the real estate market a good one especially for sellers.
Your home looks better in the spring.
Spring is the perfect time to showcase a property. Not only are the days longer and the weather warmer; a property always looks brighter and “happier” in the spring, regardless of the paint colors chosen or the plants, shrubs and trees planted in the garden.
So, what do you think? Is spring the best time to sell your house? If you do, read on for additional real estate tips.
- Getting the listing price right is very important when trying to sell a piece of property; if the price is too high, a home may languish on the market for many months.
- To get the best price possible, a homeowner should put his home up for sale after someone else has sold a house in the area. If a home inspector or an appraiser is hired to conduct a home inspection, he will issue a report that includes the current condition of the house, recommendations for repairs and a comparative market analysis, which specifies the market value of the home being evaluated based on the properties recently sold in the area. The price of a recently sold home is often higher than what was paid for similar properties in the off-season.
At North Florida Mortgage, we have no relevant experience in the real estate industry to help you sell your home. But we have plenty of experience in the mortgage industry, which means that we can offer you some of the best home financing and refinancing options across the State of Florida. To bring your new dream of owning a home to life, contact our friendly professionals today!