The right or wrong time to sell?
People ask me often “when is the best time to sell?” Truth be told, and I may be a bit of an optimist, but i don’t really think there is a definitive yes or no answer here. I personally think that when you are ready to sell, you should sell. Waiting a few months is not going to make or break things. For example, I’ve heard folks say that you should wait until January to sell instead of December. The thought is that people aren’t looking to buy a home during the holidays.
People ask me often “when is the best time to sell?” Truth be told, and I may be a bit of an optimist, but i don’t really think there is a definitive yes or no answer here. I personally think that when you are ready to sell, you should sell. Waiting a few months is not going to make or break things. For example, I’ve heard folks say that you should wait until January to sell instead of December. The thought is that people aren’t looking to buy a home during the holidays. I disagree! Truth be told, many folks use the holiday trip to view homes while visiting family members or going to the parks. The side benefit is that the house is usually decorated for the season and can help sell the home even more! Keep in mind that in the central Florida area, we get more than our fair share of tourists looking for second homes. You never know when they might be looking! Another advantage is that since most folks are waiting to list, your home will get more exposure in a lower inventory time of the year. Smart right?
I will say that just prior to and during Summer seems to be a busy time in most areas, but that can also mean more competition and inventory which can cause prices to lower with the increased competition and additional choices for buyers. Think about it. A buyer in a low inventory market has fewer options and is more likely to pay closer to asking if they find the right place. A buyer with multiple options will offer lower, knowing they have a few back up options.
What about knowing when to adjust your price? This is a hard topic for me on many levels. I always want to get top dollar for my sellers, but there comes a time when we have to face reality and make an adjustment. I know that the marketing I do covers pretty much everything and it’s all trackable. When I see a home getting online views but not so much live activity, it’s a concern. Before you drop the price, do more research. Many agents only suggestion is to drop the price and they do this so that they can sell your home, get paid and move on. A good agent will not ask you to drop without a valid reason. Perhaps your nearby competition is offering more for less? Whatever the reason, prices sometimes just need to be lowered to attract a buyer. This can be due to issues that a buyer feels will cost too much to fix on their own or that buying at the current price will not allow them to make improvements without pushing the home value beyond appraisal limits. The question I get a lot from sellers is “Why don’t they just make us an offer?” Unfortunately, many buyers just feel it’s pointless to offer on a home they feel is beyond their reach, even when the seller would go lower. It’s a bit like a game of chicken.
At the end of the day, every home, situation and seller has their own needs and timing is not as big of a deal as you might think.