Homeowners often think they should wait until the spring before they list their property. Some, whose homes were listed in the fall, take their home off the market as soon as it snows. But experienced realtors know that there are several unexpected advantages to listing your home now rather than waiting until the weather warms up.
Why sell your home in the winter?
1. Lower Interest Rates
Historically, interest rates are cyclically lower from December through January, making it a more appealing time to buy. Additionally, the 30-year mortgage rate is currently around 5%, but projections for 2019 show that these rates will start to increase, according to Zillow. So, now is the time to get in on the lower rate. Zillow forecasts the 30-year mortgage to be around 5.8% in 2019.
2. Buyers Are Motivated
Yes, ‘tis the season to buy! There’s less competition as there may be fewer buyers looking, but those who are tend to be more serious. In fact, data show that homes often sell faster during the holidays, and for more money.
3. Tax Breaks
Selling before the year ends is the gift that keeps on giving. We’re talking about a tax break! If you close before the end of the 2018, you may be eligible for tax breaks and credits, including deductions for real estate taxes, Private Mortgage Insurance (PMI) premiums, the cost of repairs and improvements related to the sale, and home mortgage interest.
4. Less Competition
At this time of year, the supply of homes for sale drops significantly, making the houses remaining on the market that much more attractive to buyers.
5. Top Notch, Faster Service
The stores may be packed, but your Realtor, title companies, banks, and lenders are probably not so busy. That means you’re more likely to be their priority. An added bonus: many potential homebuyers have time off from work during the holidays, giving them extra time to search for their new home.
6. Your Home Is More Appealing
You can capitalize on the joy of the season by making your home warm and inviting with cheerful, tasteful holiday decorations and festive aromas, such as vanilla and spiced cider simmering on the stove or freshly baked cookies just out of the oven. This appeals to the buyer’s emotions, leaving memorable impressions.
7. New Year, New Job
Often, employees will wait until the New Year to start a new job so that they don’t miss out on their annual bonus. For some, bonuses pay for upgrading their home. For others, it means relocation to a new area.
So, why wait? If you are interested in selling your home this winter, call me at (914) 414-5147 or email me at email@example.com