Should I List My House Now?

When I talk to customers who are considering putting their house on the market, I often hear them say, “We are going to wait until April or May and then list our home.” Well that got me thinking. Is that a good strategy or a bad strategy? After thinking it through, I have decided that in many cases this could be a bad strategy, and here is why.

First, there are buyers out there looking right now. In fact, 427 homes closed in Dacula in January and 403 have already closed in February and we are only half way through the month. Buyers are out there now, so why not make your house available for those that are writing contracts or for those that will be writing a contract in the next two months?

Second, many sellers will take the list in April approach and many more homes will come on the market. There are currently 380 homes for sale in Dacula, and you can bet that number will increase dramatically of the next couple of months. The increase in the number of homes means more competition. Buyers will have more choices and .  A simple concept of supply and demand may require the sellers to lower the sales price in order to get buyers to look at the house.  If a seller lists now, there is less competition which could allow a seller to hold a little more firm on the sales price.

Last, there is talk of interest rates ticking up. As interest rates go up, buying power goes down. If interest rates go up half a percent, a buyer that qualified for a house in February or March, may not qualify for that same house in April or May. So now there could not only be more houses, but less qualified buyers.

So what are you waiting for? If you have made the commitment to sell in 2010, why wait. Call a Realtor and get the house listed as soon as possible.  There is no reason to wait, but plenty of reasons why you should act now.

Good Selling and Happy Valentine’s Day!