Friday, March 27, 2015

Why Spring Is the Best Time to Sell Your Home

In their book, "Zillow Talk: The New Rules of Real Estate," co-authors Spencer Rascoff and Stan Humphries calculate the best time to sell a house. For most of the United States, that season is mid-March to mid-April. Warmer climates start earlier; cooler climates end later. But why? Why is spring the best time to sell your home?

Stampeding Foot Traffic

Come March, most of the nation is ready to hogtie Father Winter and use him as kindling. People are desperate to walk – right through your front door. Foot traffic in open houses peaks when weather conditions are sunny and breezy.

Tax Returns

During late spring, tax payers are reveling in the cash they've reclaimed from Uncle Sam. That extra $4,000 might be enough for them to offer a down payment.

Tip: List your home on a Thursday. You'll maximize your weekend exposure and minimize your days on market.

Spic n' Span Appearance

March and April is the era of spring cleaning. You've repainted your doors, scrubbed your tile grout and donated old furniture. Now is the perfect time to show off your hard work to salivating buyers.

New Year's Resolutions

Smaller waist, bigger house – the idealist resolutions of New Year's still have punch come February, March and April. People want to shorten their commutes, expand their lawns and add guest bedrooms. Your home could be their ticket.

Peak Curb Appeal

Mother Nature wears her best dress in spring. Some realtors estimate that home buyers make a purchasing decision with one minute of visiting a real estate property. Pruned shrubs, blooming tulips and green grass count almost as much as a "For Sale" sign.

Tip: Don't end your sale price with a zero or two. Buyers perceive specific numbers, like $157,345, as lower than rounded numbers.

Rising Interest Rates Home shoppers want to beat rising interest rates and annual property appreciation. Spring is the time they can lock in lower mortgage interest rates. Help them out!

Pre-Moving Season

People want to move during the "T-shirt and shorts" days of summer, not during fall frosts or early spring rains. Approximately 60 percent of home owners who purchase a house during spring will move the ensuing summer.

Recanted Apartment Dwellers

Most apartment leases conclude at the beginning of summer. Home owners looking to flee their apartment and purchase homes will seek in earnest during the spring months before they have to renew their lease.

Gennady Barsky is Chief Financial Officer and Vice Chairman of JetSmarter, the largest Private Jet Marketplace in the World.

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