Typically the best time of year to list your home is March, April, and May. In a perfect world, you would not want to list any later than May. You always want your property to be placed on the market early spring in order to get the most exposure possible during the full busy season. However, I sell homes in all 12 months of the year. For instance, we closed a home in Polo Fields this past December just a few days after Christmas. This year we are trying to get the word out to not wait until spring or summer, and that February is the time to list.
1. LOW INVENTORY: Buyers are already out in big numbers but there just isn’t a lot of selection. Listing now would most likely result in a quick sale. There are many buyers currently scouting neighborhoods and just waiting for that new listing to hit the market so they can get it scheduled with their Realtor. Do not be surprised when you get 2-3 showings in the first week it is listed. If you wait until late spring or summer you will have much competition with other listings in your area and that may slow down the sale of your home. It is important to note that buyers do not like it when they have to get in a bidding war to purchase their dream home. Buying in the winter months decreases the chances of being in a multiple offer situation when making their purchase. There are serious buyers out there right now that are tired of waiting and ready to buy. There is no doubt that the market needs more listings now!
2. FIRST TIME HOMEBUYERS: It is forecasted that this is the year for first time home buyers and they will be out in great numbers! We have not seen a surge in first time homebuyers since the 2009/2010 $8,000 tax credit was being offered. One reason for the increase is the lowered FHA mortgage insurance from 1.35% to .85%. This will allow borrowers to purchase a home for around 3% for most buyers, rather than the more recent 5%. Low interest rates will also affect the increase of first time home buyers into the market. As a side note, typically a buyer purchasing with an FHA loan should have a credit score of at least 580 for maximum financing opportunities. However there are FHA options for those who have a credit score of 500 to 579.
3. LOW INTEREST RATES: Depending on the day and which lender you choose, rates are currently around 3.75% for a 30 year fixed loan. These are all time low rates and buyers are jumping on this opportunity. You never know when the rates could quickly start rising again. Also, some buyers like to purchase in December through February when loans get processed much faster because lenders, title companies, and real estate lawyers are not as busy in the winter months.
4. MORE FLEXIBLE TIME IN THE WINTER: Let’s just face it, summers are busy! The kids are home from school and there is a lot of time devoted to the supervision and transportation of kiddos to sporting events, swimming pools, and social gatherings. I’ve noticed that many families prefer to look at homes while their kids are in school. It is easier to schedule properties when you don’t have to get a baby sitter, easier to pack for the big move, and to prepare your home to be placed on the market. In general things slow down in the winter and people have more time to plan for their home buying strategy. If a buyer is suiting up in hats and gloves to look at homes, they are serious buyers, so let’s showcase that home!
5. SPECIAL PROMOTIONS OFFERED BY CUSTOM SELECT REALTY: We have buyers ready to buy right now and continue to wait until the right one hits the market. In an effort to boost inventory and persuade sellers to list now rather than later, we are offering a couple of promotions that are impossible to pass up. When you list your home in February 2015, then it sells, and you hire us to represent you in the purchase of the next home, we will reimburse you $500. This amazing rebate will be paid to you at the closing of the home you purchase. Remember, buyers never pay us a commission and you always receive full Realtor services. So basically you are getting a $500 rebate from the cost of selling your home.
If you are selling a property but for some reason are not in the market to purchase another, we still have a very special promotion that will save you a great deal of money. When you hire Custom Select to sell your home or commercial property and purchase the listing package and open house package, we will also provide you all of the marketing from the premium plan and social media marketing at no extra cost to you. This is a huge discount and could save you thousands of dollars when you list in February. The ability to utilize all of our innovative marketing tools from our menu will sell your home fast!
For more details on FHA and conventional loan down payment requirements, interest rates, our Menu of Marketing Services, or our special promotions, please do not hesitate to email or call me.
Custom Select Realty
Licensed in Kentucky and Indiana
Selling residential and commercial real estate
Luxury Home Specialist
Short Sale and Foreclosure Specialist
Member of the Builder’s Industry Alliance
Member of the Greater Louisville Association of Realtors
Member of the Southern Indiana Realtors Association