Friday, January 12, 2007

The spring market has arrived, so why is it so cold?

So you always figured the spring real estate market started in March/April, yeah, in the spring. WRONG! Guess what in real estate "spring" starts shortly after the first of the year and continues through June. So we in real estate tend to get a jump start, but so do the buyers. While plenty of people still move after June, when that hot muggy summer starts rolling around, most people want to be on North Avenue beach or in the cool air-conditioning.

Since the beginning of the year I'd have begun working with several new clients, from first time buyers who made it their New Year's resolution to stop renting, to existing homeowners who are ready to make that next move. Many of these clients are in a position where they want to be in their new home in that March/April timeframe, so we're aggressively looking now. Some of my clients have more time so it's casual. I've always been an advocate of giving yourself more time as a buyer, so you're not in a pressure situation as you near your deadline.

For you potential spring sellers out there, my advice...don't wait until March to put your home on the market, unless you have a really good reason not to. You might have already missed that buyer who is looking for exactly what you have. It doesn't hurt to break away from the pack, it's just another way to distinguish your home for potential buyers. And if you're one of the seller's with a really good reason not to list early, don't fret, there is still 3 months left in the market, make the most of it. Most importantly, regardless of when you're placing your home on the market, make sure you price it right from the start. That one factor can make all the difference in the world.

While the weather might be deceiving, spring is here, so make the most of it!

Photo courtsey of Charlie James