The adage goes that in real estate, Spring starts January 2. The holidays are behind us, and in order to be in a new home by the summer, prospective buyers need some time just to find the right place and then 2-3 months more to close. Home shoppers are out as I type this, making inquiries, touring open houses, interviewing buyer agents, and familiarizing themselves with communities. I have a few takeaways for sellers to consider and take to heart.
- Don’t wait until the flowers bloom in April to list your home. I know the landscape is barren now and the place looks prettier when the hydrangea and rhododendron are in full bloom, but the same goes for every other home in your market. The first wave of buyers are under contract by April or May, and that first wave is the most motivated. Every other house in Westchester and Putnam doesn’t have their landscape in full bloom yet either.
- There is low inventory, which is an opportunity. In many communities, if you list you have sparse competition and a high amount of pent up buyer demand. This is a unique period, and if you want to sell you should take advantage of it.
- Don’t sweat the law changes. The tax laws do affect New York properties more than other states, but that does not mean ownership is less desirable. No one buys a primary residence property solely or a write off. You “can wait and see” while on the market with a robust buyer demand we currently enjoy just as easily than if you remained off the market.
In a vacuum, tax law changes may suppress property values, but we aren’t in a vacuum, we are in a time of high demand and low inventory. If you’d like an estimate of your home’s value online before taking another step, we have just the help for you with our online value feature.