Monday, April 7, 2008

Spring is here-again! Time to make a decision.

Yes, spring is here again! It seems like we got a teaser back in february with a few warm days and we all though spring was here! Well, with the warm weather the last few days I have seen a definite increase in phone calls and home viewings. Warm weather signals a time of change - and that brings home ownership to the forefront. People thinking of buying or selling usually get off the fence in the spring and start getting serious. For buyers, the decision is a little easier. They decide it's time to buy - and they start looking. But for sellers - there is a process involved. That's why it's important to get off the fence now and get your home listed. Lets say you are thinking of listing your house next week - mid April. You list the house and wait for an offer. At the very least - you can expect your home to be on the market a month. If you are priced aggresively, it will sell quicker. After a month on the market - if you get an offer, then you are typically another 30 days from closing. That is if nothing goes wrong. If the buyer doesn't ask for an extension for financing. If there is nothing to repair. If all goes well and you can close 60 days from next week - great. But as someone once said "I believe in hoping for the best but preparing for the worst".
What if you don't get an offer in the first 30 days? And then you reduce the price and sell for 60 days? And then you get a buyer in June - but they want to wait until the end of July because they are taking a family vacation. Or, heaven forbid - they have to sell their house first. You can see how quickly time can spiral out of control. Yes, you get to decide whether you take that offer. But sometimes these things don't come up until after the deal is signed. We have 4 months of summer and then fall will be here. In many areas - 90 days is the typicl market time. Add another 30 days to close - and you are 4 months out. Think of it this way - every month you wait to put your home on the market brings you a month close to Christmas. And you don't want your home to still be on the market this christmas do you ;)

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