Gene Lavanchy talks to John & Anthony on Keeping Your Home on the Market in the Winter
Related blog post: Should You Take Your Home Off the Market in the Winter
The old adage in the real estate world in these parts you don’t try to sell your house in the winter, the weather stinks, no one is looking to buy, it’s a waste of time, but our next guests are here to tell us that theory is bunk! Real estate experts John McGeough and Anthony Lamacchia of Lamacchia Realty are here to tell us why, and traditionally we start we look at this month and say well this isn’t really an active time of year, doesn’t make any sense to list my house. How busy is it this time of year in terms of buyers and sellers usually we think other times of the year there’s more happening.What’s going on this time?
It is actually busy. We’re having a great month, November was a great month, there was a bit of a slowdown, for maybe the week before Thanksgiving and the week after but in the last week we’ve had a lot of contracts come in and a lot of properties going under agreement and we expect that to continue right up until about Christmastime, and then pick up again after the New Year.
Let’s start right there, a lot of sellers won’t list or just pull their home off the market because they hear, well it’s kind of a waste of time.
That’s right. If you’re going to sell your home, absolutely keep it on the market. It’s definitely is a myth that homes don’t sell through the winter months. There’s a quick statistic, in the first week in May there were about 750 closings in Massachusetts, this past week, just last week, there were 784 to be exact so there was a 3% uptick in sales in December and we anticipate that to continue so if your home is ready to sell, it’s currently on the market or you’re going to put it on the market, if it’s priced correctly, marketed correctly, absolutely it needs to be “on the shelf” as we say, so people can actually see it.
So we just did a little myth-busting here, so where do they get started?
If you don’t have your home on the market it has no chance of selling.
Obviously there are some months that the market tends to be busier like in the spring it tends to be a little busier but there’s still a ton of homes selling in the winter, in the summer, in the fall, we sell homes 12 months a year 52 weeks a year. And in fact my own house, I was telling John I was going to tell this story, a year and a half ago, we decided well I’m going to put my house on the market in April, and we did that and as it turned out, February and March ended up being busier, and I ended up kicking myself wishing that I put it on the market in February.
The bottom line is when you want to sell, put your home on the market, it’s the only chance of your house selling.
Whatever time is right for you is right for the market. Now what type of buyers are you seeing now?
That’s a good question, there’s three types of buyers that will buy really year round, but especially in the winter, you’ve got relocation buyers so the home’s got to be there because they’re coming from Texas, or Arizona wherever they’re relocating from, you’ve got trade up and trade down buyers, so you’ve got empty nesters looking to downsize, you’ve got folks who are extending their family looking to upsize and their home is currently on the market, and then you have obviously qualified first time buyers, so all three of those are quality buyers that are going to potentially buy your home.
All right, so with this in mind, should people change their approach, let’s say you have it listed this time of year and your house isn’t moving, you keep it on the market, but then you say well it’s probably that time of year is why it didn’t sell, should you take a look at the price how you market it and everything else and not use the time of year as an excuse as to why it didn’t sell?
That’s a good point, you answered the question, yes any time a home’s not selling after a few weeks of it being on the market and not selling or a month you need to look at the price, you always need to. Nothing drives an offer like the right price. But if I had my home on the market right now and I wanted to sell I would not take it off. Some people take it off ‘cause they say well I don’t want people coming in and out for the holidays and that’s ok, but if you’re serious about selling and wanting to get your home sold the only way to get it sold is to have it on the market.
And people could look at that on the flip side too, if you do your home in a very festive holiday theme, maybe that’ll get people in the spirit to buy it.
And you know there are less homes on the market in the winter so isn’t that the time you want to be on the market? Do you want to be on the market in the spring when everybody else is there but do you want to be on the market when there are less homes, because the buyers are out there as John just mentioned the first time buyers that are out there now are serious ones.
Well you guys have changed my point of view ‘cause I always said, ah forget it
So we’re going to put your home on the market
I don’t even know where I’m going but I’m ready to sell it now!
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