Its that time of year when days get shorter, nights longer and people often look back on the year to start planning for the new year, 2017. It is often that so called “experts” will begin to talk about the climate of the real estate market. Here are some ideas to be on the lookout for. See if you think they are fact or fiction:
Fall and winter are the worst time to list or sell a home. Fiction. It is true that most people are preoccupied with the holidays, but these are the buyers or sellers who are “just looking”. Believe it or not there are people who do move during the colder months, due to job change, divorce, and number of life events These are the people who are most likely to buy or sell due to these circumstances. Currently, in the Southside area, there are approximately 13,520 homes for sale. This is down 8% from last year this time. It is a seller’s market now, as the competition is down. For those wanting to buy, most of these homes have been on the market more than the average sold market time of 69 days. This provides a motivation for sellers to negotiate the sales price.
Moving is harder in the fall/winter, Fiction.
Moving is hard any time of year. Let’s face it, no one wants to pack, take kids out of school. And Reorganize the home, at any time. However, most professional moving companies give discounts during this time, and you can make it a family project to decorate the home for friends, and family for the holidays. It may even give you the extra bedroom for your relatives visiting for the holidays that you don’t have now.
Planning your home sale or purchase for tax purposes is a good idea now. Fact. Many expenses that occur either with the sale or purchase of the home, are a deduction in the tax year they occur. Therefore, buy or sell before Dec 31 2016 will give you many tax advantages for your return in April, rather than waiting until 2018. Check with your accountant.
In summary, there is only one time to buy or sell a home. That time is when it is right for your circumstances. Don’t let what you hear about the market dictate when to proceed with your decision. Talk to a professional realtor and then make your decision based on sound information regarding the current market conditions.
Sue Maclary -Realtor
I have worked with Don for a couple years and he is a true real estate professional. He is always able to find what my clients want for their family, and does it quickly.
~ Nick, Local Mortgage Agent
About Don Maclary
