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Is Fall a better time to sell than Spring?

An interesting question is floating around right now -- a lot of my clients are wondering if they missed the "selling season".  Lots of my listing appointments are actually considering waiting till spring 2011 to list again and the buyers are kicking themselves for missing out on the $8k tax credit.

Did you in fact miss out?

The one thing I know 100%, without a doubt, no questions asked is this market is anything but typical.  Our August, for which we will finalize our books tomorrow afternoon, is much much bigger than the past two Augusts have been.  And our office has indeed seen a big upswing in listings inventory in the recent weeks, and a steady flow of contracts, all of which enforce our feeling that seasonality is being overridden, at least this year, by other factors.

I agree that historically, the notion of the strong spring (when the “For Sale” signs begin to bloom!) and a decent early fall secondary bump, were absolutely in play.  However, we are starting to see a different trend this year and perhaps even the next couple of years.

Perhaps the biggest “pattern buster” is the impact that the Tax Credit had on sales.  Of course sales went down in July! How could they not -- residential homes just had THE BIGGEST sale ever and buyers received $8,000 in return!  What did we think would happen?  But the cool thing is we are already starting to see sales creep back up, mostly due to low interest rates.

I liken low interest rates to our second BIGGEST sale ever!  A 15 year mortgage at 3.875%!!! Buyers are realizing that the interest rates being low is actually better than a measly $8k tax credit.  And the timing of this will likely lead to a 4^th quarter boom, unlike typical 4^th quarters have been historically.

So it’s a NEW normal out there – if you are considering selling do NOT wait till spring, do NOT wait till summer, just DON'T wait.  

A few more thoughts here . . . .

Buyers looking to time the market, or who didn’t find the right house yet, or are just waiting for the right time to buy, YOU are in that time right now.  And according to the activity we are seeing as our office, the market is beginning to respond accordingly.

The big take-away is this – 4^th quarter 2010 has incredible potential. Potential to be a 4^th quarter unlike those we are normally used to based on the old norm of seasonality.  Call me today to discuss selling your home or buying a new home.....don't let another great opportunity pass you by.

Best Regards,