We’re barely into the new year and it is cold…. very cold…. outside. Why would I be suggesting sellers put their house on the market?
The chart below shows that January historically has a stronger showing activity than November and December and due to the 20% decrease in houses for sale in the last 12 months, there’s less competition in the market now. Less competition makes it more likely that a buyer will find and select your house. In fact, in January and February 2009, the houses that sold took 15% fewer appointments to do it.
The other reason you should consider listing now is that the home buyer tax credit is only good for purchase agreements accepted by April 30th, 2010. That gives you less than 4 months to take advantage of what is effectively a subsidy. If your buyer is a 1st time buyer or has owned their current home for more than 5 years, they’ll get a tax credit ($8000 and $6500, respectively). If you have been in your house for more than 5 years and plan to buy again, you can get a tax credit too!
While showings pick up substantially in March, more listings historically come on the market during that time too and that only gives you 60 days to put a sale together to take advantage of the extended credit.
I’m a big proponent of the philosophy of “you make your own luck.” If you want to take the greatest advantage, get moving now.
