Should you sell your home during winter months?

Posted by Steve Harmer on Tuesday, December 6th, 2016 at 10:39am.

Absolutely!

Are we just saying this to get you to sign a listing contract with us? No way.

Let’s be honest, our job as Realtors is to make a living, right? The only way to make a healthy living in real estate is by creating strong relationships with clients, which is contrary to the popular belief of just selling more homes. Reason being, we are after referrals; the only way of earning a referral is by doing an outstanding job.

When we advise clients to list their home during winter months, it’s because we firmly believe that it’s in their best interests. We’re not being salesman, because like we said above, we are in the business of creating strong relationships.

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Buyers move for two reasons – they’re motivated (must move) or they find a home they like.

It’s as simple as that. Because of this, why not list all year round? Yes, there is snow. It’s cold out. The holidays are upon us – did we book Aunt Shelly’s flight yet? There is a lot going on in the winter, but at the end of the day, when consumers are ready to spend hundreds of thousands of dollars, they will spend it on something they either need or like. Believe us when we tell you, they will not pass up their dream home because it’s cold out. Winter home stats

Spring may still be peak home-shopping season, since most families want to move when the kids are out of school. Yet it actually pays to list in the winter, when buyers tend to have more urgency: A study by online brokerage Redfin found that average sellers net more above asking price during the months of December, January, February, and March than they do from June through November, even in cold-weather cities and homes listed in winter sold faster than those posted in spring.

Sellers, right now in Kamloops (December 2016) it is a sellers market, inventory is low, very low and there are always buyers out there.

Some tips to help with your winter home sale

Schedule a Tune-Up

Winter buyers are particularly attuned to issues related to heating and maintenance. Get your furnace, HVAC, and roof inspected, and make any necessary repairs. Also on your to-do list: Clean the gutters, change air filters, and weather—strip the windows. Many cold-weather house hunters will also be thinking about heating costs. Consider low-cost upgrades like insulating the attic or installing energy-efficient windows, which can slash utility bills, says Brendon DeSimone, author of Next Generation Real Estate.

Price It Right

The quieter winter market brings special pricing considerations. Unlike in spring, when there are more shoppers—and it may make sense to price low to try to generate a bidding war—you’re less likely to receive multiple offers. Winter is also a bad time to test the market and list high. If the house doesn’t sell, you may need to drop below market value to nab a buyer before new properties appear in spring and make yours look stale by comparison. The upshot: Take a conservative approach and price at market value. Check closing prices of comparable properties sold in the past 30 days, then eye current list prices to make sure your home won’t look overpriced.

Brighten Your Home

Snow and gray skies make for a gloomy first impression. Warm up curb appeal with basic landscaping, and add inexpensive cool-weather plants like holly to invigorate outdoor space. Fix chipped paint, caulk windows, and repair cracked window seals, which can cause condensation that freezes over and creates an eyesore.

Offset the season’s poor natural light by painting your house off-white throughout—it sets a consistent color palette and makes the space feel larger, says Sacramento interior designer Kerrie Kelly. Create a sense of warmth throughout the home, starting with the living room, where staging can have the greatest impact, according to a National Association of Realtors report. Items like a throw blanket can set the tone since “people are in winter mode,” says Annette DeCicco, a New Jersey regional sales manager at Berkshire Hathaway. Just don’t tie the space to a specific religion or belief, advises Kelly. To stay neutral, use such seasonal touches as stacked wood by the fireplace rather than holiday decorations. Winter home sales

As always, de-clutter and depersonalize. Put away family photographs so that buyers can see themselves living in the home; instead display pictures that show what the property looks like when the temperature is warmer, like the garden in full bloom or the backyard in the summertime. Just because it’s winter doesn’t mean buyers can’t appreciate what your home has to offer year-round.

Reasons to List in the Winter

Many sellers believe that the winter is a bad time to sell a home. Therefore, there is less competition for your property. Remember, buyers will buy.
Because of the cold, rain and snow, buyers can see a true representation of your homes quality. Does the roof leak? Is there a draft? How is the insulation? Many savvy buyers wait until this time of year to purchase for this exact reason.
Have a fireplace? Buyers love them. Light a fire for each showing – whether it be wood-burning, gas or electric. You can’t do this in the summer.
It’s cold outside. For each showing, offer warm apple cider or a hearty soup from a local business. Even if the buyers do not accept them, you’re making them feel at home. This is much harder to do in the summer.
To reiterate – inventory is lower in the winter! That should be your number one reason to list. Less inventory combined with more buyers can only result in more offers, and more offers means more money.