Fall and Winter Sellers Have the Buyer's Attention

The best time to sell a home is always when you and your house are ready. Looking at the number of homes on the market, spring appears to be the time of choice for most people to try to sell. It's also the time when the most people get out and start looking at homes. In Madison, our spring market begins on the first business day after New Years Day and if that's when it starts, November and December is when it ends. So it looks like we are coming to the end,... or maybe we can look at this another way. Let's look at what we know and decide if maybe there is opportunity right now.

I like making decisions based on what we know as opposed to what we hope for. Today I know interest rates are at 50 year lows for people with great credit--the rest of qualify for better rates than were available over the last 10 years. So, let's put interest rates in the plus column. Next, we know the appraisers have to have sales in the last six months to support a purchase price for the underwriters. Well, we can go back to April, May, June for recent sales, and since those were the days of highest demand, we can conclude there are some comparable sales to support our asking price.  That's another favorable factor. For a third, we can assume the best homes have sold, the ones still on the market have been considered and passed over, the new listings are sitting on the sidelines until spring. Competition is weak.

That's a total of 3 market forces favoring sellers in the fall and winter in Madison. Now, let's maximize our advantage. Fall in Madison makes for some beautiful photographs. Even a garden at the end of fall looks better than a blanket of snow in the eyes of a relocating person who will be seeing your house for the first time on-line. Those relocating families are the bigger fish in the pond of qualified buyers. They don't have the luxury of waiting until spring, and they will select a home from the best choices on the market in a relatively narrow window. We want to get their attention. Photos and walk-thru videos will help get their attention and keep it.

Great value always matters, so let's consider increasing our market audience by range pricing. Reach down below a price point to draw qualified buyers up and in to your home. Look at your market to determine the next lowest break point and invite those people in.

Keep in mind that the buyer of today is different than the buyer of 2004. In only six years we have gone from a broker centric business model to one where the consumer has access to information. Highly motivated buyers may be sitting on the sidelines appearing to be unmotivated but watching for the right property. The more well informed a person is, the less likely they are to display the common characteristics of fear of loss---and that's what we might mistake for motivation. The internet provides everything a person needs to stay in and on top of the real estate market 12 months a year. These people will step up and identify themselves when they see what interests them.

Wait until spring and you are competing with everyone for the attention of the home buyers. If you have a crystal ball, you may be able to jump in at the right time. Without one, you should be safe in going with what you know. Price smart, prepare your home, and yourself, then put the house  out for consideration. When offers come in, pay close attention to what works for you. It's possible the closing date and assurance of a sale could be the most valuable attributes of an offer.