Selling Homes during Holiday Season and Winter Time
Many people make the decision to wait until spring time to put their homes on the market because everyone knows that "Spring time is the best selling season". It is true that there are more homes on the market in the Spring with many more sales because parents prefer not to move and have their children change schools mid-year.
However, the Fall, holiday season and Winter have advantanges in selling your home:
While parents with children make up a good portion of our population…. don't forget the young professionals, the retirees and couples without children!
Serious buyers are still looking for homes year round…. less inconvenience for you and your family in showing your home.
There is less competition from other homes on the market…. less homes for the buyer to consider.
Faster Transaction Time…. the banks, appraisers and escrow companies will not be as busy.
Mortgage Interest and Qualifications are changing in 2014…. causing issues with higher interest and stricter loan requirements.
You need to move on with your life…. what is the reason you are selling and decide if it is worth it to wait until Spring and the extra competition.
To obtain a free Seller's "How to Sell Your Home" booklet, send an email to DeeMarie@SellingProperites.com
Coastal San Diego Real Estate Market
I knew, yet I didn't know…. that I relied on hosting open houses in the coastal areas of San Diego to inform me of what was trending in the real estate market from Del Mar to Encinitas and beyond. It came to light when I read the article that Samantha Henry of The Daily Transcript/San Diego Source wrote from an interview we had recently… "Realtor picked up changes in consumers at open houses".
The psychology of home buyers and sellers is fascinating in today's world of internet and social media; however, it is still the face-to-face interaction along with the statistical data that will truly help me understand our real estate market and the clients I work with daily.
How would you interpret the real estate market today?
Within the past six months home prices have consistently jumped, showing apparent signs of a housing recovery. The median price for any home sold countrywide in June hit $416,500 which is the highest since June 2008, when the median was $429,000. June's recording marks 24% increase from the same time a year ago and the tenth straight month a double digit year over year percentage increase.
Amazingly, rising prices can be seen in 91 San Diego zip codes throughout the county with Borrego Springs, Pine Valley and Golden Hill showing the largest jumps in price for single-family home sales. Prices are rising in large part because of the share of distressed sales, which tend to involve discounts, has declined dramatically.
Inventory Crunch. Home price hikes also have spurred by increased competition among potential homebuyers who are picking from a limited supply. The number of homes listed on the market has slowly risen over the past six months reaching 4,803 in June and continuing to rise through September. Less supply has resulted in bidding battles in certain parts of the county and some upbidding which contributes to the rising median home price.
Mortgage rates rising too quickly will cool down the housing recovery and if rates rise slightly, up to 0.5%, sidelined buyers afraid of missing good rates may jump in the market, continuing to fuel it. A 1% increase will have more of an effect on the market because it will affect affordability.
Predictions are that county residents will see more steady increases in home prices and sales in the later half of 2013 as the long as the number of distressed homes stays low and mortgage rates don't go up too much.
Check out the Union Tribune's interactive database of home prices in your zip code. With no obligation, email Updates@SellingProperties.com to order a more comprehensive look at your home's value.