Many people, including some REALTORs, think winter is a terrible time to buy or sell a house (or any other property). Between the cold, wet weather and the holiday distractions, REALTORs sometimes recommend that their clients wait until spring to dive into the market. This is not necessarily good advice.
I once knew a REALTOR who loved the winter season—it was his most productive time of year. Why? He told me, “Everyone else quits working.” While others were busy decorating, buying gifts, and attending parties, he was tending to those who needed to buy or sell property before the weather warmed up. When time is of the essence, opportunities arise.
There’s a misconception that those with school-aged children only shop for homes during summer. Not true. People of all ages, even those with young children, face conditions that necessitate the purchase or sale of property: a legal settlement, divorce, marriage, new baby on the way, death in the family, a job transfer or new job, and so on. And even if there’s nothing unusual happening, plenty of folks who don’t have kids in school are perfectly happy to buy or sell property any time of year.
In winter, there aren’t as many properties on the market, so sellers have less competition. There are also fewer buyers looking, so buyers have less competition.
While it’s true that most people don’t like to go out when it’s 35 degrees and raining, those days are rare around here. During our winters in the Ukiah Valley, we often have crisp but sunny days. These are great for house hunting.
Buyers who are willing to brave the cold are often serious about finding a place. (Looky-loos wait until spring to peruse homes.) Sellers who put their property on the market in winter are often eager to sell and more willing to negotiate to reach a quick agreement
With lower interest rates making homes more affordable, now is a great time to buy or sell a home. Here are some of the benefits of selling a house in winter:
- Motivated buyers
- Less competition because fewer people put their properties up for sale this time of year
- More time to dedicate to the activities of selling property, including open houses, because of holiday observances (more three-day weekends, time off work)
To be fair, there are some challenges to selling in winter.
- You may attract low-ball offers, but you are under no obligation to accept them.
- You’ll need to be mindful of maximizing curb appeal and the condition of landscaping. On the other hand, the cold exterior allows you to make the inside that much more inviting with a warm fireplace and delicious baking smells wafting through the house.
- Some home flaws are more apparent during winter. If there are leaks, condensation around windows, drafty doors, erosion or water traveling against the foundation, this becomes obvious in winter. I see this as a good thing for everyone involved. Sellers are supposed to disclose these sorts of things and may have forgotten. In winter, much of what should be disclosed is visible.
To offset bad weather, you can make your property appealing online with three-dimensional home tours and professional photography. That way, when someone finds your home online, they see it in the best light.
To make sure your property shows well, clean out a third of your belongings to make rooms appear more spacious. Decorate for the season, open curtains for natural light, turn the heat on to make it feel cozy, and throw some mulling spices on the stove to create a welcoming ambience.
Because the days are shorter, it’s wise to use solar-powered walkway lights to illuminate the pathway to your front door. Not only does it look nice, but it increases safety. I also recommend investing in good doormats at all entrances to minimize people trailing dirt and mud from the outside into the house.
If you want to buy or sell property in winter, don’t be deterred by naysayers. For some, winter is the very best time to engage with the housing market.
If you have questions about property management or real estate, please contact me at rselzer@selzerrealty.com or call (707) 462-4000. If you have an idea for a future column, share it with me and if I use it, I’ll send you a $25 gift certificate to Schat’s Bakery.