Autumn in the Southern Adirondacks is here in full force but as the leaves fall, this does not signal the end of our season for selling homes. In fact, last Fall our 500+ REALTOR members reported for the second year in a row that the real estate marketing in our area did not slow down! According to our statistics October 2016 had over 6% higher closed sales than October 2015 with homes on the market fewer days and in October & November 2016 that 94.7% of the homes sold at their list price. Continued low interest rates and the impending speculation of rising interest rates continues to help fuel a real estate buying and selling fervor.
Some reasons to consider NOT WAITING till spring to put your house on the market:
- Serious buyers are always out there! Although there may be less overall buyers in the market in the Fall, serious buyers are always out there. That means that those coming to see your home are potentially more than “tire kickers or homeowner wannabees”.
- Character of neighborhoods stand out more! with various holidays in full swing, it might be a good time for buyers to measure their compatibility of a neighborhood that they are looking for. Are there pumpkins on the front steps? Are there holiday lights being put up? if this appeals to buyers it could make a difference between one location over another.
- Less competition! Yes, we said Fall continues to be a good and busy market, but it is a fact that there is slightly less competition to sell your house too and this can be a positive! Spring is the traditional time when people list their homes for sale- but this also creates a far larger “store shelves and shopping cart” for would be buyers to select from which may create more scrutiny and longer decision making. Less competition means you have the potential for more showings, and a smaller pool of other homes for buyers to select from.
- Faster Transactions! Appraisers, Loan Originators, Title Companies and Banks are less backed up with transactions at this time of year through the winter months so the process involved with the purchase may be far quicker than waiting till Spring and Summer when everyone gets so busy and backlogged.
- Staging is a Snap! There is no doubt that staging a home properly can lead to more interest and a quicker sale. Fall and winter holidays make staging with creative seasonal objects and decor so powerful, cozy and inviting! So bake that apple pie, spark up the wood stove or fireplace, and decorate the Christmas tree to a sparkling jewel and it will help potential buyers see themselves enjoying your home as much as you do!
The Southern Adirondack REALTORS, Inc. is a nonprofit membership association representing over 500 area professional REALTORS and Affiliate businesses who serve all of Warren County, the Northern half of Washington county and portions of northern Saratoga and Essex Counties. The association’s mission is to meet the business, professional and political needs of its members and to promote and protect private property rights. The Southern Adirondack REALTORS, Inc. is a member of the New York State Association of REALTORS, Inc. (NYSAR) and the National Association of REALTORS, Inc. (NAR). Its offices are located at 296 Bay Road in Queensbury. Visit their website for additional consumer information about home ownership at www.SouthernADKRealtors.org.
Article written by Luisa Craige-Sherman, Association Executive/CEO