I was just out to breakfast today with my wife Jen, at Gina’s. (the best place in Fairview Park to eat breakfast) I couldn’t help but overhear the conversation at the table next to us, they said that they were going to wait until spring to sell their house. This made me pause.
That is such a big mistake and I thought you should know why, in case you’re thinking of doing this yourself.
If you wait until springtime to sell your home, and by springtime, I mean April, May, or June, you’re going to be putting your home on the market at a bad time. Typically spring time will have a lot of homes you will need to compete against as well as new construction. When buyers have a lot to choose from they can become anxious and hesitant.
The best way to look at this situation is like supply and demand. Think about housing just like anything else: it’s an asset. In supply and demand, if there are more assets available, the price is going to be less. If there are few assets available, the prices go up. Adding your house to a market already saturated with homes on the “supply” side will only make it harder to sell. The best thing to do is to market your home with less competition on the market.
Our market in the Cleveland area is driven by first time home buyers. They buy a house when they are ready to buy a house. That’s just how it works. They do not normally wait for spring.” They save their money and get at it as soon as they can. Last year in the first few months buyers were willing to get into a bidding war because inventory’s were low, as inventory’s grew they were more likely to just move on to the next one.
So, do them and you a favor and stop waiting until Spring!
We cover all of these things in my book, so if you’d like a copy of it, feel free to send me an email or comment down below. I’d be happy to get it out to you!
Have a great day and I hope you enjoy the weather! It’s hasn’t been too bad lately, at least for January in Cleveland.
I look forward to hearing from you!
