As the days grow shorter and shorter, so should your house’s time on the market. When it comes to the fourth quarter of the year, it is important to understand why it makes sense to take your house off the market and suit up for the following year. Most sellers are hesitant to take the risk, but our insights below should tell you why it’s best to take your house off the market beginning in mid-November.
‘Tis the season: Turkeys are in the oven. Trees are being decorated. Carols are playing. There are so many distractions during the holiday season that potential buyers will tune out that part of their lives, with their finances refocusing on family and friends. Don’t believe me? According to Bloomberg Businessweek, the average American spent $423 last year on Black Friday. That’s just Black Friday. Americans routinely drop thousands of dollars during the holidays, so buying your house will move down the list.
Think Like a Buyer: John Lennon once said, “The more I see, the less I know.” This quote applies perfectly to this topic, and how your house will be perceived if it’s on the market in November and December. Buyers will see the price, the number of days on the market and the weather forecast and make one conclusion: something is going on behind the scenes. We call it an “imperative”. Buyers will begin to think, what is the imperative here? Was there a divorce? A death in the family? Why is this seller trying to make sure this house gets sold now? It’s important to think like a buyer when you make decisions like removing yourself from the market.
Numbers Game: Two numbers are of vital importance to you and the sale of your house – days on the market and the dollar amount (you knew that one). The longer your house is on the market, the more suspicious the buyer becomes. Taking your house off the market eliminates that suspicion. Second, it’s important to be realistic with the price of your house. If it is worth $200,000 in October, then most likely that price will only decrease in November and December. Taking it off the market allows your house to appear new the following year.
Other thoughts: Expect an early buyer’s market in 2014 due to the economy, the government shutdown in 2013 and the stock market. Just another reason to remove the house in 2013 and prepare for 2014.