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Buying or Selling a Home in Winter: What You Need to Know
Ann K. • Mar 22, 2020
Buying or Selling a Home in Winter: What You Need to Know
People don't buy or sell a home in the winter.....Right?.... Wrong!
In fact, if you checked the numbers, you’d find that roughly 1/4 of homes purchased in Northern NJ are done during the coldest months of the year. In 2018 there were 6,900 residential home sales in Bergen County for the entire a year. 1,600 of those purchased took place in the winter months of 2017/2018. The same can be said for the winter of 2016/2017. 2019 is already trending upwards.
The amount of homes that are bought and sold in the winter is nothing to sneeze at.
If you’re wondering if you should put off buying or selling a home until spring, why wait? You may be surprised to learn that there are actually advantages to buying or selling.
What are the advantages? Let's find out!
Selling a Home in Winter
Ok sellers, lets checkout the perks of selling when the air gets chilly.
The Internet Has No Seasons
Most buyers go online to search for homes, no matter what the temperature is outside. In fact, nearly 90% of all buyers used the internet during their home search. The instant access to property listings has had a huge impact over the years on the typical seasons buyers look for homes. Yes, spring is still the hottest home-buying season however serious home buyers are always on the lookout. Checking the latest listings on their device for their most ideal home and deal. So even though the weather may be changing, it won’t stop home buyers from shopping.
Less Sellers In The Winter Months
Winter is a sellers market. Come spring, sellers will flood the market and your home will be just another fish in a great big ocean. But in the winter months you’ve got a limited number of sellers on the market. With buyers having fewer homes to choose from, you'll sell your house faster.
Buyers Mean Business In The Winter Months
The average person wants to curl up next to a warm fire on a cold winter day. If buyers are enduring the freezing weather or breaking away from their holidays to look at your home, you know they're serious. Some winter buyers are working against a deadlines, some an expiring lease, some have a contract on their current home or looking for a great deal.
Time Off During The Holidays
Think people are less likely to see your home in the midst of their hectic holiday schedules? For some that can definitely be true. However most people also have more time off around the holidays. That means more time for browsing on their favorite home apps, day dreaming about their future decor, and yes, even scheduling home showings.
Tips for Selling in the Winter
Here are a few tips to help you set the buying mood:
Keep it simple. If you’re selling around a holiday and have decorations up, make sure they accent—not overpower—a room. Less is more.Crank up the cozy. Light a fire in the hearth, play soft holiday music in the background, and prepare fresh-baked goods or mulled cider for guests. Shine a light outside. Winter days get dark early. Brighten your home’s exterior with outdoor spotlights.
Take down outside decor. Nothing says “my home won’t sell” like a house with reindeer inflatables on the lawn after the holiday. Avoid a winter wonderland. Snow is great, unless we’re talking about outside shots of your home. Buyers want to see details of the house, not a blanket of snow. Make sure you have clear-weather photos of your home.
Remember, the nicer your home looks, the more likely it is to sell—and for more money.
Buying a Home in Winter
Home buyers! Now your turn, lets roll! Here are the benefits of buying a house when the weather outside is not so delightful.
Less Buyers
Okay, we've established that there are less homes sales in winter. You typically won’t have to deal with as many competing buyers as you would if you waited to buy in spring. Which probably means you don’t have to worry as much about someone else snagging your dream home before you can submit their offer, or about getting caught in a bidding war. It’s kind of like when someone brings in holiday treats to share with the office, but most of your coworkers are out of town. You get first dibs!
Better Deals
Since supply and demand are both down during the winter months, you'll be able to save money on your purchase. And hey, if you’re able to knock tens of thousands of dollars off your home purchase, that might make any challenges of buying during the wintertime worthwhile.
Mortgage Rate Fluctuations
If you’re getting a mortgage, you might be able to lock in a good interest rate before the new year hits. Having a lower interest rate would save you money as you work to pay off your new home.
Witness the Home’s Durability
House hunting in winter gives you a chance to see how your potential new home handles harsh weather. Sure, moving to a new home during the spring and summer is probably a lot easier than when you have to bundle up and deal with icy roads. But suppose you fall in love with a house even with the weather at its worst. Then you can be confident that living there will only get better from here on out!
Tips for Buying in the Winter
Negotiate with confidence.
Remember, there isn’t much competition. So, sellers will probably be willing to work with you. If the home inspection brings up some issues, don’t be afraid to ask your seller to make repairs or lower the asking price.
Ready to Buy or Sell Your Home in Winter?
With all these advantages on your side, hopefully buying or selling your home in the winter won’t feel so daunting. We know you’ve probably got a lot on your plate this time of year though. Let my team and I take care of that for you.
Contact Christian Di Stasio for questions or start the buying process at 646-280-7136
Sources: NJMLS, GSMLS, D. Ramsey.
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Ready, Set, Sell! A Guide to Preparing Your Property for Listing
Most Important Factors When Selling Your House Enhance your home’s selling potential by pricing it right and presenting it in the best possible light. The Christian Di Stasio Group shares your home-selling goals and will equip you with the knowledge and tools to price and prepare your home. The Seller’s Guide to Real Estate is our ebook that explores the key methods to selling and the ways to ensure your home doesn’t sit on the market. While home sales hit new highs in Northern New Jersey for myriad reasons, including low inventory, high demand, and sporadic dips in mortgage rates, there are two universal truths about real estate when it comes to selling: PRICE An educated home buyer understands when they see a good deal as well as an unrealistic seller who has a pie in the sky price. As a strategy, we want to price a listing to sell and to elicit attention. Pricing your home to sell is an intricate calculation that aims to hit the sweet spot: not so high that you reduce buyer interest and the listing becomes stale, and not so low that you undersell its value or indicate that there’s a structural problem or other deal-breaker. It is important to build in flexibility to the list price. If you receive an offer that’s below list price, consider making a counteroffer or other small concessions. Conversely, if a property is priced right or slightly underpriced, you can potentially receive multiple offers. The Christian Di Stasio Group aims to hit a target and price your home right at market value. Pricing your house fairly based on market conditions increases the chance you’ll see a bidding war, and when that happens, you’ll likely get an even higher final sale price. Above all, when homes are priced right, they tend to sell quickly. PRESENTATION First impressions matter, especially in real estate. The outside should reflect how lovely your home is on the inside. Keep the outside of your home as inviting as the inside. The front door, mailbox, lawn, and driveway should be picture-perfect and evoke a sense of cleanliness, organization, symmetry, and serendipity. You want to leave an indelible mark on prospective buyers, and proper curb appeal sets the tone from that point forward, sending a strong message about your home’s value. If your home’s exterior is in need of TLC, consider repainting, replacing old hardware, sprucing up shrubbery and flowers, adding landscape lighting to accent walkways, tile your doorstep, repair cracks or stains on your driveway, and put away bikes and toys. The exterior should be in pristine condition and clear of clutter. Creating inviting outdoor living spaces makes it doubly inviting for potential buyers to step inside. The interior of your home should be spotless, and that might mean hiring a professional cleaner to do a deep cleaning. Emphasize storage and remove unnecessary furniture; a clean, decluttered house will give buyers the confidence that it has been well-maintained. Declutter and de-personalize to make your home seem larger and more appealing to buyers. Remove personalized items such as family photos or a child’s artwork. You want potential buyers to envision it as their home. Fix minor repairs, eliminate pet or smoke odors, and increase the sense of space inside your home with the careful placement of mirrors, light fixtures, and make sure windows are sparkling clean inside and out. Getting your home spotless and organized is a precursor to capturing appealing listing photos as well as having successful showings and open houses. The goal is to create beautiful, aspirational, and thoughtful spaces in which people can imagine themselves living and existing. The Christian Di Stasio Group would be happy to walk you through any of the ideas contained in this article. We are proud to provide exceptional real estate brokerage services as Bergen County, NJ, Franklin Lakes, NJ, Paramus, NJ, and Westwood, NJ Realtors. Whether you are selling, buying, or investing, we are your go-to team for impeccable, full- service resources, representation, and tools. We can help you price your home right and transform interiors and exteriors, create functionality, and cultivate a magazine-worthy look so that your home doesn’t sit on the market. Our team is dedicated to providing professional and comprehensive real estate services to our valued clientele.
“Now’s the time to buy real estate!” This enthusiastic headline appears time and again but landing your dream house can be problematic if you don’t have the right financing. How you will fund your home purchase is vital to ensure you make a financially sound real estate decision.
The Christian Di Stasio Group is an award-winning real estate team who can help you reach that 2023 goal of getting into the home of your dreams. Our 28+ years of experience in Westwood NJ Real Estate and Bergen County NJ Real Estate make us the perfect fit for any type of client, including growing families, young professionals, empty nesters, and investors.
Buyers love Northern New Jersey for its top-rated schools, close proximity to New York City, and bucolic towns. With Spring right around the corner, the season to sell is here. Hiring a top-performing real estate agent is the first step to successfully selling your home. The Christian Di Stasio Group is composed of Franklin Lakes, NJ realtors, Paramus, NJ realtors, and Westwood, NJ realtors whose record-setting sales in Bergen County, NJ reflect our high standards of quality, integrity, and invaluable market insights.
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