For many home sellers, there’s no better time to list than the spring, and for good reason: this is peak home-buying season!. Buyers turn out in droves once warmer weather finally arrives, bringing people out of hibernation mode, and bidding wars abound as buyers look for ways to one-up their competition.
The bad news? Selling a home during the spring isn’t free of pitfalls. Since knowing what to expect can help you nab a great offer, here are 6 things you’ll love and hate about selling a home this spring.
Love It – All The Demand
While home sales decline in the winter because of bad weather and holiday obligations, many home buyers blitz the housing market in spring. To meet that pent-up demand, many sellers list their homes at this time of year. It’s no surprise, then, that the lion’s share of Real Estate Agents say March, April, and May are the best months to sell a home. With so many buyers competing for homes, sellers may be in a stronger position to spark bidding wars.
Hate It – All The Competition
Demand is strong, but so is competition among home sellers. According to the National Association of Realtors, the four heaviest home selling months are May, June, July, and August, accounting for 40% of an average year’s total home-selling volume.
Want to compete with other home sellers and fetch top dollar for your house? Presenting your home in the best light is crucial. This may entail decluttering your house, having your home professionally stages, or making minor repairs so that your property is looking in tip-top shape when you put it on the market.
Love It – Selling in Warmer Weather
Open houses are often more successful during the spring than in the winter. Since nicer weather makes buyers more willing to emerge from the comfort of their homes. Another boon for home sellers: Daylight saving time gives buyers more time to look at houses, which means your property can potentially be seen by more people.
That said, sellers still need to do some prep work before holding an open house. To make sure your home is ready to be seen, do a thorough cleaning, remove such personal belongings as family photos and religious artwork, and trim your lawn for maximum curb appeal.
Hate It – Fighting For Your Agent’s Attention
Since this is a busy time of year for home buyers and sellers, it’s also a busy time for Realtors. Unfortunately, some agents may take on more clients than they can handle at one time. That’s why it’s important to find a listing agent who is going to put the proper level of effort and time into selling your home and you can’t go wrong with an S&D Real Estate Agent!
Love It – The Higher Valuations
When your home’s value is assessed by a home buyer’s appraiser, the appraiser will look at data from comparable home that were recently sold in your neighborhood. The good news: with more home selling in the on-season, the comparable data tend in your favor. In other words, your house is more likely to pass the home appraisal, assuming that you’re selling at around its fair market value.
Hate It – The Picky Buyers
Naturally, some buyers can afford to be more selective when there are more houses to choose from. For instance, if your home clearly needs major repairs, they might simply pass. Add in the fact that most buyers aren’t shopping under pressure, and you can expect to have a larger pool of picky house hunters in the spring than you do during other seasons.
Bottom Line
Spring is unequivocally the busiest time of year to be selling a house, and though more demand from buyers can be good news for home sellers, there are still obstacles you need to plan for when selling a home at this time of year.
