The Convenience of
Throughout the year there are dates or times that are of such significance that it seems as if we are stepping across a threshold to another space even though it is simply a place in time. Spring is one of those times. Spring has sprung and it seems that with it a real estate switch is ready to be flipped. Sellers are ramping up, many looking at April 1 as a target date for entering the market.
There are many reasons for the popularity of Spring selling. The weather has warmed a bit and things are thinking of greening up. Some trees have blossoms and daffodils are pushing up in the gardens. It is easier to keep the home clean for, and from, showings, as there is less of the inclement outdoors being traipsed in. It is also easier to turn the air in the home over this time of year to keep things fresh.
One of the main reasons for Spring selling is the timing of the transfer of ownership. A home listed on the first of April in a good market will close just after school is let out for summer. That eliminates the need for special housing arrangements for children to complete the semester, or to move twice if they move to a rental. That convenience is also a consideration of Buyers with families that want to move after the school year.
Some people change their wardrobes during the year. As Winter clothing is bulkier than summer clothing the Spring transition to Summer clothes makes the closets seem larger as there is less crammed in them. The same goes for patio furniture and other items that are stored in the garage for Winter. Moving them out makes it seem more spacious. The appearance and feeling of more space combined with open windows and blinds bringing in the outdoor air and views enhance the appeal of the home.
Spring selling also allows for better moving weather. It isn't too hot or cold for those doing the heavy lifting making for better moving efficiency. There is less concern about damage from heat, cold or moisture as things are moved out of the protection of the home. Doors can be left open, and things can be staged outdoors where there is more room. Better staging makes for better loading on the truck.
Spring Sellers sometimes think they have weathered Winter and it is time for prices to go up. With that mindset they often price their home high since they feel they have all Summer to get it sold and they want to test the market. Spring Sellers often resist the first offer since they are new to the market and have the perception that they have time to sell. Unfortunately, often the first offer is the best offer as it is usually somebody watching the neighborhood. Such Buyers are ready to pounce and are willing to pay a bit more to live where they want to live than is the Buyer that isn't as attached to the neighborhood. Sometimes it takes a few months for a Seller to appreciate where their home truly fits in the area inventory.
Our Advice: Many consider Summer to be the prime selling season, but in Northern Nevada there is a decent market year 'round. Some think that prices go up in the Summer because of the increased demand, but it can be offset by the abundance of inventory generated by the many like-minded people thinking that it is a good time to sell. Is this the best time to be a Seller? When the time to sell is right for you and your family is the best time to be a Seller. Buyers that have waiting this long won't pay too much now. If interest rates go up over the next few months prices won't increase as much as Sellers would like them to as Buyers will lose some of their buying power as they can't borrow as much money for the payment that they qualify for.
Spring is the time of new beginnings. Baby lambs, blooming flowers, and new opportunities for home Buyers and Sellers. Changes abound this time of year. If you are in the market be sure you keep up as they occur.
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