WHY SHOULD A HOUSE STAY ON THE MARKET?
Many ask this question in difficult markets, should I keep my house on the market or take it off the market and put in on in Spring Market when more buyers are looking?
- The public has to know a home is available for sale. If the home is not listed on the market, no one will see it and there is no opportunity to purchase.
- Serious buyers are searching all the time and are motivated to make the effort to search no matter what time of year.
- In the late Fall and early Winter there is generally less supply of homes on the market, which also means less competition and could lead to a better price. We have even sold homes on Christmas and New Years Eve.
- International buyers shop year round for homes and don't observe North American holidays.
- Relocation and federal Public Service transfers start in early January, which means that these buyers are looking for accommodation now.
WHEN SHOULD I PUT MY HOUSE ON THE MARKET?
You often hear about the busy Spring market, and many will say this is the best time to put your house on the market. Consider these points when making the decision when to put your home on the market:
- When purchasing a new home closing dates can be a long as 6 months, it is important to give yourself 3 months marketing time for your home.
- I have found listing at the end of January is a good time for March and June closing dates.
- Competition and supply of homes on the market is higher in the Spring.
- If a house is vacant It is generally harder to achieve a higher selling price than if the home is furnished and staged.
- Check with your bank and mortgage broker as to the conditions for mortgage approval, possibility of porting your existing mortgage, bridge financing options and costs.
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We are pleased to have recently supported the Canadian Federation of University Women/Kanata Enchanted Mosaic Concert on November 15th in support the CFUW/Kanata Scholarship Trust to provide bursaries to local high school graduates who are in need of financial support in attending university. www.cfuwkanata.ca
The Joan Smith Real Estate Family is pleased to support the following organizations:
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