The Daily Bean | 1.3.19 | Issue 034
Welcome to The Daily Bean! The mission of The Daily Bean is to give you daily tips, resources, and timely information that you can act on to maximize your real estate career at Bean Group.
NEWS / INSIGHTS
IN FAVOR OF THE JANUARY LISTING
Most sellers list their homes for sale in the spring or summer, but there are very valid arguments for listing sooner rather than later. Some factors to discuss with your sellers:
Current mortgage rates. Even though rates have subsided a bit late in 2018, most predictions call for some level of increase in mortgage rates in 2019, creating the perception that rates may now be, or will soon be, at their most favorable for the foreseeable future. Buyers who monitor rates closely will understand that now may well be the time to take advantage of maximum mortgage affordability, and sellers who are actively marketing their homes will benefit.
Limited competition. It’s no secret that the number of available properties decline and remain at a relatively low level until inventory ramps up in the spring, so competition from other listings is limited for those sellers that market their homes now. To illustrate, NEREN’s active single-family residential listing count for New Hampshire properties is currently at about 65% of the summertime peak listing count, and in many markets, home buyers have very limited inventory from which to choose.
Some homes stand out in the winter. Buyers will appreciate a home that’s well equipped to handle the challenges of a New England winter. From the comfort and security of an upgraded furnace system to the cozy appeal of an attractive fireplace or high-end hot tub, help sellers understand the features and the marketing strategy that will make their property resonate with winter buyers.
Ramped up relos. For those communities that have a significant corporate presence, relocations are notably heavy at the beginning of the year, and relocated corporate employees make for motivated buyers.
Serious buyers. While the longer, warmer days of spring and summer bring window shoppers and showing requests from less-than-motivated buyers, winter buyers tend to be more serious. The distraction of the holidays is over, and annual bonuses, taxes, and other year-end financial elements are coming into focus. New buyers emerge, and buyers from last season are re-energized and eager to bring their search to a resolution.
The bottom line: this may be exactly the right time for your sellers to get into the market!