We all know, the housing market heats up in the Spring and lasts throughout the summer. But with winter coming, (I know, I know, sorry) - what can we expect?
But did you know, that there are advantages to listing your home during the winter season?
This article from the Dave Ramsey Blog highlights a bunch of reasons why this is the case. We're going to highlight three of them today and briefly add a few details. The text in italics is from their blog, while my thoughts are added below.
If you're looking to sell, you can contact me by email here or call me at 574-210-7470.
1. COMPETITION DRIES UP
Come spring, sellers will flood the market and your home will be just another fish in a great big pond. But right now, you’ve practically got the market to yourself.
Since 2014, existing home inventory has fallen an average of 15% from November to December. That’s 15% less competition on the market if you list your home during the winter! Buyers have fewer homes to choose from, which means you could sell your house faster.
This is especially true here! The surge in housing will definitely slow down over the winter months, giving you a unique opportunity to have even more interested parties in your home than usual. November is just around the corner but there is still time to get your listing up!
2. TIME OFF
You may think people are less likely to see your home in the midst of their hectic holiday schedules. That can definitely be true, but keep in mind most people have more time off around the holidays. That means more time for browsing their favorite home apps, dreaming about their future decor, and even scheduling home showings.
Again, the South Bend area is in a unique position related to this point. It was so hectic during the summer months, there's a chance prospective buyers were turned off. Will they be back to looking over the winter? I'd bet so. You'll be in position to get your listing in front of some highly interested buyers.
3. TAX BREAKS!
Winter home buyers may also be motivated to capture the tax benefits of buying a home before year-end. Home buyers can write off some of the expenses of their home purchase on their taxes. There are usually multiple tax benefits of owning a home they can take advantage of, too. Typically, a homeowner can count on the following being tax-deductible:
Private mortgage insurance (PMI) premiums
Real estate taxes
This is another important factor to keep in mind, especially if you think your home may draw interest from the investor side of buyers. Locking in property before the end of the year could be the exact tax break an investor is looking for, make sure your home is listed and in position to take advantage of this fact.
Feel free to read some of my reviews at this link. Hope to hear from you soon!