I have been asked by many Kansas City homeowners: “I know it’s not a great time to sell in Kansas City. Should I put my home on the real estate market now or wait until spring?”
The first part of the answer depends on a homeowner’ personal goals. If a seller has no place to go, plans on purchasing in the future or has other external factors that push their timeline out, it may make sense to wait until those answers are figured out and there’s less uncertainty. This can be the case for any seller at any time of the year.
There are six main advantages for a Kansas City homeowner selling now versus waiting until next spring:
1. Inventory – In the spring, how many other Kansas City home owner's will end up using the “Next Spring Strategy”? They may have been waiting a year or so until the market got better, or just figured it was the best time to list their property. So her comes the spring and the highest inventory of homes for sale. There will be that much more competition to potentially compete with. When there is more supply, typically the listing prices go down. By listing now, you avoid all that potential competition of next spring
2. Motivated buyers – Often, many Kansas City home buyers will just wait until spring to start their search. The home buyers who are house hunting during the winter holidays are serious and motivated home buyers. Sure there will be less of them but they will be more serious home buyers. By listing now, you’ll potentially get one of these buyers to write an offer on your home before the spring rush starts.
3. Mortgage rates – The mortgage rates right now are below 5%. This is actually causing an uptick in buyer traffic and activity. I think November, December and January will end up being busier months for many agents than July through October, which is unusual. By listing now, you’ll catch this waive of buyers shopping for houses.
4. Buyer Confidence – Forget about what you read in the newspapers and hear on TV. Buyer confidence is starting to shift, which is also increasing buyer traffic. I’m getting multiple offers on homes right now. Don’t you want to take advantage of the shift?
5. Accomplish your goals now - When it’s all said and done, wouldn’t you rather have sold your home by March or April, and then enjoy the spring rather than just listing your house then? I love it when we accomplish our goals ahead of time, it’s a great feeling. By listing now, you’re positioning yourself to accomplish your goals sooner than later. What else will you be doing during the winter months?
6. Reverse fear – Not to buy into the media’s doom and gloom, but there’s always a risk that the housing market could deteriorate more instead of picking up by mid next year. In addition, the reality of the Kansas City real estate market getting that much better in a short period of time is remote. It is doubtful that waiting until spring would bring you a higher sales price. It could even be worse if they think the economy is going to deteriorate as the unemployment rate continues to skyrocket. By listing now, you avoid that uncertainty.
Bottom line; interest rates are rising and Fall/Buyer Buyers are typically more serious. A well-known local developer/Broker shared coffee with me on Saturday morning. I referred to her a sale opportunity in Liberty. She believes, “Winter buyers are fewer tire kickers and looky-loos...”.
I believe her.
If you want to take advantage of a more serious buyer pool, and the interest rates that are driving this year’s Buyers, then let’s get started.
RE/MAX sells more homes than any other real estate company in the world....for a reason.
Should we talk?
The first part of the answer depends on a homeowner’ personal goals. If a seller has no place to go, plans on purchasing in the future or has other external factors that push their timeline out, it may make sense to wait until those answers are figured out and there’s less uncertainty. This can be the case for any seller at any time of the year.
There are six main advantages for a Kansas City homeowner selling now versus waiting until next spring:
1. Inventory – In the spring, how many other Kansas City home owner's will end up using the “Next Spring Strategy”? They may have been waiting a year or so until the market got better, or just figured it was the best time to list their property. So her comes the spring and the highest inventory of homes for sale. There will be that much more competition to potentially compete with. When there is more supply, typically the listing prices go down. By listing now, you avoid all that potential competition of next spring
2. Motivated buyers – Often, many Kansas City home buyers will just wait until spring to start their search. The home buyers who are house hunting during the winter holidays are serious and motivated home buyers. Sure there will be less of them but they will be more serious home buyers. By listing now, you’ll potentially get one of these buyers to write an offer on your home before the spring rush starts.
3. Mortgage rates – The mortgage rates right now are below 5%. This is actually causing an uptick in buyer traffic and activity. I think November, December and January will end up being busier months for many agents than July through October, which is unusual. By listing now, you’ll catch this waive of buyers shopping for houses.
4. Buyer Confidence – Forget about what you read in the newspapers and hear on TV. Buyer confidence is starting to shift, which is also increasing buyer traffic. I’m getting multiple offers on homes right now. Don’t you want to take advantage of the shift?
5. Accomplish your goals now - When it’s all said and done, wouldn’t you rather have sold your home by March or April, and then enjoy the spring rather than just listing your house then? I love it when we accomplish our goals ahead of time, it’s a great feeling. By listing now, you’re positioning yourself to accomplish your goals sooner than later. What else will you be doing during the winter months?
6. Reverse fear – Not to buy into the media’s doom and gloom, but there’s always a risk that the housing market could deteriorate more instead of picking up by mid next year. In addition, the reality of the Kansas City real estate market getting that much better in a short period of time is remote. It is doubtful that waiting until spring would bring you a higher sales price. It could even be worse if they think the economy is going to deteriorate as the unemployment rate continues to skyrocket. By listing now, you avoid that uncertainty.
Bottom line; interest rates are rising and Fall/Buyer Buyers are typically more serious. A well-known local developer/Broker shared coffee with me on Saturday morning. I referred to her a sale opportunity in Liberty. She believes, “Winter buyers are fewer tire kickers and looky-loos...”.
I believe her.
If you want to take advantage of a more serious buyer pool, and the interest rates that are driving this year’s Buyers, then let’s get started.
RE/MAX sells more homes than any other real estate company in the world....for a reason.
Should we talk?
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