Many of you may be struggling with the decision of whether to list your Charlottesville farm for sale now or whether to wait until spring. I realize that there is a lot of uncertaincy right now. In my personal business the reality is that I have seen an increase in business over the past several weeks. Of course this discussion is based on the assumption that you have a desire or need to sell in the near future. If this is not the case then you may want to make the decission to wait until there is a shift in the market.
There are several factors that support the decision to list at this time. To begin with, while we have a lot of inventory on the market now, these numbers will only increase in the spring when all of the people who are waiting will add their homes to the market.
One of the strongest points for listing now are interest rates. They are amazingly low and could very well be going lower. If you list now, you can catch the buyers jumping into the market to take advantage of those low rates. Also, you will be able to take advantage of those same rates when you buy.
Yes there may be fewer buyers at this time of year, but if someone is out looking at homes over the holidays they are usually motivated buyers. There will be fewer lookers, but a higher percentage of those lookers will be buyers.
If you believe that we are not at the bottom yet, then home prices may have fallen further by spring. Does it make sense to wait and sell at a lower price? I have not seen any predections that support a model calling for higher home prices by spring. As a seller this may work to your advantage when you buy. You may end up getting less for your home, but this could even out with the opportunity for you to buy your new home at a great price. These savings could work out especially well if you are buying up with the low interest rates.
Christopher and Stephanie Sommers have written an excellent blog post discussing the pros of listing your home now. They are real estate professionals serving the Philadelphia market. The points in their well written post apply equally well in our market.
If you do decide to sell at this time, remember that it is important to price your home well and to have it in as good condition as possible. You will want to make sure that your home is the one that buyers want to see. A key step is to hire an agent with a strong internet presence. Afterall if over 85% of homebuyers are beginning their search on line, that is where your home needs to be.
, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161, [email protected], to list your property for sale or to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.
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