Five Reasons Why Spring is the Hottest Time in Real Estate
Every Realtor® will tell you that Spring is the undefeated champion when it comes to best seasons to sell your home. So why is this particular time of year so appealing to homebuyers and sellers?
Some of the reasons may be obvious, but others may be more surprising. See below for the five best reasons that make spring the season to sell, and how to take advantage of this hot time of year.
The homes are at their most gorgeous. If you’ve ever seen an episode of any real estate show, you’ll know that so-called “curb appeal” is one of the main aspects that a person looks for in a home. Now’s the time to get a fresh coat of paint on the outside, and hype up the landscaping, because the photos needed for most real estate sites are going to be what draws in your buyers. Take advantage of the blue skies and natural sunlight that can flood the inside as well.
Potential home-buyers are anxious to get settled before the new school year. Most residential sales take several months to finish unless you are using a non-traditional loan like a hard money lender to quicken up the process. A residential bridge loan may be just the thing to speed up the process, but for several buyers, they will be using someone like a bank or credit union. Because of the legalities involved in a property exchange, buyers will be ready to make offers when they can, so they can close and move in when the summer hits or before a new school year if they have children.
It’s a seller’s market. With property values increasing and the U.S. coming out of the housing bubble, sellers are at an advantage they haven’t seen in a while. Buyers have to compete for single-family homes in great areas, so offers are coming in quickly, and people are hoping the right bid will be theirs. Take advantage of this popular time for buyers by throwing your home into the ring, and see how many will come flocking to be a part of your great neighborhood in the beautiful springtime.
Millennials are getting into the game now. A study in 2016 saw that nearly 35% of new homebuyers fall into the millennial age range, making them the largest group by far. They are getting smarter about saving, working harder, and being tech-savvy enough to do the research required for being a homeowner. Take advantage by making your property available to see through as many online sources as possible.
Small upgrades can be done fast, and really make a difference. If you had a harsh winter, it might not have been the best time to do renovations on the home. With the weather thawing, spending the first month or two of spring doing those small aesthetic upgrades can add much more in resale value than the money invested. Focus on the bathrooms and kitchens using a merchant cash advance, as these are the rooms that really sell a home.