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Why Waiting to List Your Home Is Not In Your Best Interest

Friday, February 08, 2019   /   by Ellen Sanford

Why Waiting to List Your Home Is Not In Your Best Interest

Everyone knows that we are subject to 4 seasons in the northwest with some years having heavy snow falls.  Most people I talk to tell me that they want to sell their house but.....  and there is that "but" again, they want to wait til Spring.  
Waiting until Spring isn't doing you any favors.  Let me explain.  If you wait until Spring, and your neighbor waits until Spring and the guy behind you waits until Spring and the person behind them waits until Spring, what has that done to help you? The answer is not much!!!  You have now entered the market at the same time as your competition!  That doesn't help you!
In our area, we do see a change in the market a few times a year.  It usually slows in the fall as kids head back to school, and then slows even more around the holidays.  Don't get me wrong, houses are still selling during those times, but... what happens as soon as the holidays are over is people get out and start looking! 
Right now I have buyers that are almost to the point of panic because they can't find the house they are looking for!    Also, happening right now and set to change is the market place.  It is a sellers market!!  The inventory available is low.  There are under 1000 homes, as I speak on the Cda MLS there are 1445 current listings.  That includes all types of properties, single family homes, multi family homes, condos, commercial property and vacant land!  Of those 1445 listings 794 of those listings are under contract!!!!  That leaves 651 properties for people to look at.  Only 651!  When people list right now, guess what happens?  They sell!!!
Now, I know that a normal human might say, "Well, that isn't completely correct, that house has been on the market for many months now."  I get that, and that is a true statement.  There will be properties that won't sell right away for various reasons.  For example, high end or luxury homes take a specific buyer (i.e. a person with a lot of money) so those may sit on the market longer in comparison to a home that is listed in the 200k range.  There is a huge market right now for houses under 250k!!  So, those homes are literally flying off the market!  As an agent we can hardly get clients out to see those homes fast enough!
Homes that aren't priced right won't sell right away either.  And then there are homes that have pet problems or are need updating, those may not sell right away either.
Now that we have addressed the exceptions to this article, let's get back to why listing right now will help you.  First of all, as I mentioned, you won't have as much competition.  That can be a huge benefit for you.  Let's say you have the perfect home, everything is meticulously kept, beautifully painted, and a nice yard and your neighbor down the street, has the same home in the exact same condition and features but they have a 3 car garage, which house will sell first?  Now add on to that, you have a beautiful home, but it is 25 years old.   Good ol' Hallmark Homes opens up another stage in one of their new neighborhoods, so now your possible buyer can have a brand new house built for the same amount they could buy yours.  And not only can they get a new one, they don't have to worry about the age of the roof, because the house is new!  But I am getting off track, in a nut shell, less competition means more buyers.  As I mentioned, I have buyers that are looking and looking and looking for a house that fits what they want.  I have a lot of buyers looking right now.  Why are you waiting for a couple of more months when you could sell now, and if priced right, possibly end up with a bidding war!  Take advantage of this sellers market now!!  If you have thought about selling and want to, getting on the market right now will be amazing!  I am telling you, it will benefit you!  BIG!  What are you waiting for!!

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Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

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