Tuesday, December 8, 2009
Winter,spring,summer or fall,if there is buyer he/she will call
I was fortunate to recently get a listing in my neighborhood,Kemp Mill,a subdivision in Silver Spring,Maryland. Some people,including the seller asked me if the winter was indeed a good time to sell or if it was better to wait until the spring.
There are indeed good arguments for waiting until the spring,but here are some reasons to sell now:
1a. The first time home buyer tax credit was extended until April 30th 2010. Contracts need to be ratified by April 30th,2010 and settlement by June 30, 2010 and (b) they added a tax credit for repeat home buyers who are selling. Contracts need to be ratified by April 30th,2010 and settlement by June 30, 2010
---So,one thought on waiting to put your home on the market in the spring is that some buyers don't want to purchase during the academic year. Some buyers may not want to buy during the winter months. It may be hard for the seller to keep up the house/make it show well in the winter with snow,raking and other household tasks.
The potential tax credits won't be available at the end of the academic school year (at least not at this point). There may be more buyers trying to take advantage of the opportunity and so in a sense we are in the "spring market" right now.
--If you are a repeat buyer and want to be eligible for the tax credit,you also need to put your home on the market now as the repeat home buyer tax credit is based on selling your current home and buying your new home in a certain time frame.
2. Another reason to sell now or anytime is that people move at any point during the year due to such things as job transfers,if their family expands and their current home is now too small,they are renting and their lease is up and for such unfortunate circumstances as death and divorce.
3. Some buyers move look for homes in the winter...if they are looking for a winter home.
Interestingly,in part,due to the snow over the weekend,I got a call from buyers who want to see my listing today at 1014 South Belgrade Road. Perhaps they found the walk to their synagogue to be difficult/long probably because of snow,ice and slush on the sidewalks. My listing is right around the corner from their synagogue,so the home would be a perfect location for them.
At my open house on Sunday,one group came through who is also interested in the location for being close to the synagogue. Ideally they would like a home with a main floor bedroom (rambler or cape cod)because one of the buyers has arthritis is their leg. There are a couple of ramblers/cape cods on the market,but if one is Sabbath observant and needs to walk to his/her synagogue on the Sabbath and High Holidays,my listing might be a better fit,as they wouldn't have a flat walk (from both homes one needs to walk up/down a hill). If one needs a main level bedroom,he or she might be able to convert the carport into a bedroom or put an addition on the home.
Hopefully one of these buyers will be the next home owner of 1014 South Belgrade and if not,there are plenty of buyers out their looking for a home with a superior location.
Anyhow,the point is that one can make good arguments for selling in any season. Buyers are always out there with different circumstances and the extension of the tax credit for first time home buyers as well as the repeat home buyer tax credit
certainly make it advantageous to sell your home now.
If you need help, let me know.
Life is good!
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