Next Thursday September 22nd will be the first official day of fall. Incredible isn't it. Where has the time gone!
Part of the reason time is moving so quickly at The Nicoli Group is that we've been kept very busy by buyers eager to take advantage of current market conditions, especially with the very low mortgage rates that are still showing no signs of a steady increase (though one can never be totally certain of this, of course).
Given the extreme buyer enthusiasm we're seeing in the bulk of our local housing market, I think it's fair to assume that, all things remaining equal, we're going to experience a repeat of the unusually busy fall/winter real estate market we enjoyed last year.
If you're currently selling your home, or thinking of doing so, the coming weeks really do represent a fantastic opportunity for you.
Unfortunately, some sellers will succumb to the total myth - perhaps the biggest in real estate - that homes don't sell as the holidays approach. Remember that their loss is absolutely your gain, because listing at this time of year means, despite wonderful advice to the contrary, that there will be a gradual tapering off of inventory of available homes for sale, as some buyers will withdraw from the market until the New Year. This means less competition and more robust asking prices!
And before we go any further, let's consider the total lack of wisdom of a strategy to withdraw a listing right now.
Today's market is very much a case of "if it ain't broke, don't fix it." With low mortgage rates and incredibly motivated buyers across most sectors, delaying or postponing a listing is a risky move that presupposes that no circumstances will change over the winter. Given that this is an election year, with a new president due to be sworn-in in January, that's arguably taking a bigger chance than normal, irrespective of who wins.
Right now is also a great time to list, as there will be many buyers who are keen to be moved into their new homes before the holidays, so that they can entertain in style. These are great, qualified buyers, looking to purchase very quickly. Keep listing to ensure your property is on their viewing lists!
We're also approaching the time of year when many people need to move to be ready for new job starts in the New Year. This is arguably an especially relevant point for our area, because we are in the world epicenter for information technology employment.
And with the average monthly cost of renting now exceeding monthly purchasing costs in California, it's likely that we are going to see more and more first time buyers recognizing what is perhaps a unique opportunity, regardless of the season, to break the renting cycle and finally own a place of their own.
On top of all this, let's not forget that fall is a wonderful time of year to present, or stage, your home. Seasonal decorations and color schemes can add an extra welcoming glow to your home - many correctly presented homes will not look better to buyers throughout the whole annual cycle than in the coming months!
I talked earlier of the complete myth that real estate selling doesn't happen in fall and winter. What might perhaps surprise, or even shock, you is that some agents actually contribute to this fallacy by effectively taking a break until the spring, content with the commission they've already earned in high season.
At The Nicoli Group, I'm proud to say that we don't take a rest at all throughout the year and prospect for buyers every single day. Contact us today to be sure that you're working with an agent that's as keen as you are to sell your home regardless of seasonal trends/myths.