When Is the Right Time to Sell?
Your family is changing and you’re thinking about selling your lake home or investment property – or maybe your primary residence. Before you start searching for your next “place to call home”, you’ll need to figure out when – and if you are READY to sell your existing home. While there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The wrong time to sell
This likely won’t come as a big surprise: you should avoid selling your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? No one’s really itching to buy, and offers that do come in are often low. So as a general rule of thumb, avoid the months of December and January when selling a home. (It’s OK to get your home READY to sell – and even get your listing paperwork out of the way with your Realtor. MANY lake buyers start looking right after the holidays:)
A “Lake home for the family” makes an awesome Christmas gift!
The best season for selling
There three very active seasons for selling lake properties: Spring, Summer and Fall!
– Spring: The holidays have past, the new lake season is still a while away, and homes and yards are starting to look GOOD after winter. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories can be high. This means lots of competition, so if you’re going to sell in the spring, you really need to get your property to stand out with effective “preparation” for the market – make it MOVE IN READY! Buyers WANT to move in and start getting ready for that next lake season! – Summer: The lakes are FULL of visitors during the summer months. SO MANY families have visitors, friends, extended family and ‘wanna-be’s’ with them that your property will get the most ‘looks’ during the summer months.
– Fall: Lakes are GORGEOUS in the fall! Colors are brilliant, water is cleare and Autumn is ‘in the air!’ And on Rough River Lake – you get almost a full month longer to enjoy the lake as our ‘draw down’ begins much later than lakes around us! (Ask me why:)
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.