Why Now is the best opportunity to sell your house
The spring and summer seasons are commonly seen as the most ideal time to sell your home. Sellers are placing their homes for sale and buyers are eager to purchase. As for the other seasons? They're often given a bad name.
While seasonality is true in the real estate market it doesn't mean listing your home for sale at any other time is a bad idea. However, it appears this idea has been drilled into our minds over time, leading homeowners to experience cold feet.
As the school year gets underway, most homeowners feel like they've missed out on their opportunity. "Buyers aren't in the market anymore", "My home will remain in the marketplace", "I'll have to accept a lower offer." This is often what you'll hear from homeowners who aren't interested in selling in the winter months or the fall. However, there's a lot more to an effective sale than just choosing to list your home during a "busier" period of the year. Experienced sellers realize that just because you place your house for sale in the summer or spring, does not mean that you'll get an easy and quick sale.
So, to get you started off on the right track We're here to explain why listing your home during the fall or perhaps the winter might be the best option for you. Let's dispel some myths and tell the reasons why it's the best time to market your house.
Myth #1 The best time to sell is in spring. time to sell your product
Let's get this one cleared up first. It's not uncommon for homeowners to believe that spring is the best opportunity to sell their homes. Spring is a great time to sell your house. You will get top dollar and your home will sell quickly. Everything will run smoothly. The problem with this outlook is that (1) the fact that you list your home in the spring does not mean that your house will sell easily and (2) there are many other factors that affect the success you have in-home selling. A professional REALTOR can help you navigate the market, and reach your goals.
The Truth: The best time to sell your home isn't based on a particular season. It's a combination of many elements.
Myth #2: Buyers aren't looking for homes in the Fall
Sellers think that buyers will aren't looking for homes after the summer has ended. However, this could not be farther from the truth in Illinois. Although families with kids in school might delay purchasing until the last minute, they are only a tiny portion of the marketplace. You may still find buyers during the summer months who are searching for homes and new listings may be slower.
The truth is Smart buyers are constantly looking for houses. The Illinois economy isn't slowing down. It's actually growing at an unprecedented rate, bringing more jobs to the area and increasing the number of residents looking for homes. The Illinois Workforce Commission shows Illinois having a record-low unemployment rate of 3.4 percent, citing a strong economy, employer growth, and an expanding industry, all contributing to an increase in the population.
Myth #3 The Home You Own Can be Sold for Less Money
Sellers aren't keen to sell their homes in the fall because they fear they will be forced to accept lower prices. However, this is not the case. This is due to the notion that fewer buyers are looking for homes, which is a myth that we have already busted. But, smart sellers know that they can utilize this information to their advantage.
The Truth is Many sellers believe these myths are true. This implies that fewer homes are listed during winter and fall which means there is a lower supply. There is less competition because there are fewer houses to select from. If there's less supply and the demand for housing is rising like we've seen it forecast to be and it is, then buyers who are on the list have an advantage. Higher prices are the result of increased demand and decreased supply.
Myth #4: Homes Sit on the Market For Longer
Sellers usually put off selling their homes. This is because of the worry that their house isn't going to sell until the fall. The reason homes don't sell during the winter or fall months is not seasonality.
The truth: The real reason homes are on the market (no matter what the season) generally boils down to three things including pricing, appearance, or inflexibility.