Three Mistakes Home Sellers Make in Winter
People sell homes in the winter. Statistics have proven this to be true. What is also true is the tendency for sellers to make mistakes during this time of year. This is unfortunate. Selling a home in winter does not involve major landscaping maintenance (although you should take a few pictures of your house in summer). There is less inventory to compete with during the winter months.
Sellers may find that many companies shift workers around during the first quarter of the year (and they may have housing credits to help with the move). And one upside that should be considered: Should you decide on an open house, potential home buyers may be more serious than summer looky-loos.
The mistakes sellers make in the winter months all seem to revolve around price.
First Mistake: Potential Buyers
Statistic show that median home prices fall compared to other times of the year. But you should also be aware that this is a statistical aberration. True, there are fewer homes on the market but there are also a large number of sellers who have become frustrated and an even larger number of agents that feed that frustration. Sure, it’s slow but that is not a reason to adjust your price because of inclement weather. If the price for your home was set in the summer and based on market conditions, hold steady because those statistics also show that those who do maintain their pricing will get their price or close to it.
Second Mistake: Lowering Your Price
Selling your home is not like the last day of a garage sale. You do not have to entice potential buyers with discounts. But you will also need to have your home priced accurately. If the house is staged to be cozy and inviting, people will enjoy the “hominess” and will be able to envision themselves curled up with a good book, a hot drink, and a toasty fire in the fireplace. The right price is important but you need to present that price in a way that will motivate the buyer. We can discuss these staging options at length.
Third Mistake: Unrecognized Motivation
Sellers often assume that buyers are less motivated in the winter months when the exact opposite may be true. The “out-of- season” buyer has reasons to look for a home in the off months and in many cases, it is not bargain hunting. On the flipside, there is the tendency to believe that setting the price higher based on the belief that there are fewer homes and therefore less competition will be doing both themselves and their agent a disservice. And speaking of agents: There is some truth to the fact that it is slower and we have fewer calls to show houses but we also have more time to devote to finding the right buyer.
So to review: Winter does have a special class of buyer. They are motivated by reasons you may not have considered and lowering, or raising your home’s price based on your belief that it will attract better buyers may be unrealistic. Your buyer is motivated. Be patient and keep the home on the market. Call me to discuss the particulars.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420- 3725 | Mobile: 541-420- 4018 | Fax: 541-593- 5123
Licensed in Oregon