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When Should I Sell?

When Should I Sell My House?

The age old question of when is the best time to sell my house is one that leaves every home owner in a dilemma to answer. Selling a house should be more than a whimsical decision based on the advice of one person. There are a variety of factors to consider when making this decision.

A little forethought, planning and preparation will make your real estate experience a winning one. Each of these factors will have different implications depending on where your residence is located, what your family situation is, and what your motivation for selling is. Consider each carefully when making your decision.

Weather considerations

Traditionally the spring is considered to be the best time of year to sell property. However, it is not true in all regions. For example in the south, where we are in oxford the best time to sell is June July and August as that is when the parents of students are looking for a home or condo – although, in a year round climate the sales volume remains pretty even throughout the year with only small variances. In the north, spring still remains the time to sell as the snow melts and your property can be enjoyed and seen.

Seasons

It is a fact that almost 60 percent of all home moves take place in the summer months. But to move in the summer means that the home was pended or contracted in the spring as most closings take a few weeks to happen. Late Summer and early fall tend to see a lag in sales as many people are taking last minute vacations or preparing students for the return to school.

There is a conflict of opinion on whether or not sales happen during the late fall and early winter typically known as the holiday season. The season decorations and lower competition for sales during the holiday season may play right into your hand. Another upside for buyers is that purchasing a house before December 31st will enable them to claim the IRS mortgage deduction on their tax returns.

During April and May most markets see a spike in sales. Taxes are back, school is just about out and the nice weather makes for a pleasant buying experience.

Supply and Demand

When buyers perceive that there is a shortage of homes to choose from they will settle for property that is not exactly what they were looking for but will work. Check out the listings to determine how many homes are for sale in your area. The overall economic conditions of your region will also play into the market; as will interest rates.

There are some that will also tell you to watch the major events in the area. Gasoline prices to droughts and wild fires (which you shouldn’t have to worry abou tin Oxford) will play a part in the supply and demand game of real estate.

Motivation

What is motivating you to sell? Are you looking to down size or up size? Can you stay put until the price listed matches the price offered? Do you have some place to go if your property has a quick close?

Conclusion

How you decide what time is the best time to sell is really contingent on the above items. Every season has a positive and a negative, in the real estate market however, it is always a good time to sell if the price is right. Your best decision may be contacting a local real estate professional to assist you with the best strategy for your unique situation.

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