The house-hunting season in NE Florida is a little different than in other parts of the country. In most areas of the country, Spring and Summer are the busy seasons whereas in NE Florida our Summer's tend to be so hot that house-hunting actually slows down. As we begin to enter the cooler seasons here, house-hunting tends to pick up September through mid-November, slowing a little for the holidays, then picking back up again after the holidays through the Spring.
We are noticing this year that there is a lower inventory of competitive properties on the market. People are only selling their homes if they really have to and buyers have also become much pickier since the housing crisis turned it into a buyer’s market. There’s not a good selection of homes out there right now, so keeping your house listed as we head into the higher selling season is a good idea.
There will be a new crop of buyers out there now, including anyone who couldn’t find the right home during the height of house-hunting season last Spring and took a break from looking to go on vacation in the heat of the Summer. They will be looking to close by Thanksgiving.
If you are going to keep your house on the market as we head into the higher selling season here are some tips to remember:
Reconsider the Price
If your house has been on the market since last Spring, you need to look at what other properties sold over the summer in your area and what they sold for. If your asking price is much higher, you may need to lower it.
We all love our homes, but pricing is based on supply and demand.
Review your Marketing Strategy
Since you’re dealing with a small window of time in which buyers will still be actively looking before the holiday slow down, you’ll need to also review your advertising or marketing strategy.
Talk to your real estate agent and find out where their leads have been coming from. Push to have the marketing freshened up in these areas, including new photos and new language.
Give Your Home a Face Lift
Curb appeal is immensely important. Buyers watch HGTV and they go out and look for homes that look the ones on their TV shows.
As such, homeowners should spend some time improving their house’s exterior. For instance, a fresh coat of paint on the front, new shutters or a glossy finish on the doors. Also consider changing your landscaping to reflect the fall foliage. Replace the flowers with fall plants.
What other tactics can homeowners use to increase the likelihood their house will finally sell? I put together an "owner’s guide to selling" that also provides additional staging tips. If you aren't already working with a Realtor, email me for a copy.
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