Listing During Winter or Whenever You Want Because This Market is Crazypants and Your House Will Most Likely Sell Regardless...

 Okay so 2020 has been pretty bananas for the real estate market, it exploded into this crazy "multiple offers on everything and every listing going over asking" type situation, which we were not expecting at all early on in the year, pre-covid times. 

I will give you the "coles notes" version of why this is happening, in case you aren't really sure. 

For one, we have our regular local market of buyers, whether first time, second, fifth, or tenth time buyers, we have them and they have helped over the years to maintain a strong market in the Quinte-Kingston areas. These people are now taking advantage of the incredible buying power that the lenders have afforded them, which leads to my next point.

Interest rates have never been so low! I have received a notice today from a local mortgage broker Rob Clark, showing me that rates are at 1.74% for a 5 year fixed insured mortgage. If you go and chat with your parents, ask them what the rates were when they were first buying...or don't because it will just be depressing and you'll have to listen to them tell you all about their struggles of buying at a ridiculously high rate. 

Next we move to the main reason why there is a lack of inventory = Outside buyers. When outside buyers come in, they are buying, but they aren't selling here, which takes away the equilibrium of the market. Outside buyers also typically have more buying power financially because they have sold homes for quite an amount in other markets, and have more power to go into a purchase unconditionally. Local buyers don't always feel comfortable going into a purchase unconditionally, as they need to do things like making sure water is potable, and septic systems are in good working order and pumped out prior to them buying. 

Back to the listing in winter part, now that we have all gotten caught up on the market info. Listing during winter months could be the best time for you to sell. 

1) Winter buyers are more likely to be serious buyers, anyone who is getting all geared up in a parka, boots, scarf, mitts, hats, etc and clearing off their cars to go see a home, now that is devotion and clearly those people need a home. Therefore, they are serious buyers, not tire kickers.  

2)  Majority of people want to wait until spring to showcase their home with flowers, green grass and trees in bloom, but what people forget is the emotional side to winter and the holidays. Buyers can envision their kids making snowmen (or snowwomen) in the backyards covered in snow, or watching as their dogs run and jump after snowflakes or snowballs. The thoughts of scoping out a spot to put up the Christmas tree or seeing where sellers put theirs up, is both emotional and exciting for buyers. 

3) Moving services are less booked. People don't often think of this aspect. Often times throughout the year my clients struggle to find moving companies that can service them for their specific move date. Also friends and family would most likely have some time off for the holidays or into the new year, so they could assist in the move in exchange for some pizza and beer as payment of course!

4) You can have your home sold, and move all well before the nice weather arrives! This way you can leave your summer open to enjoy the new patio/deck, playing horseshoes out back or whatever you enjoy doing during the warmer months, without the worry of trying to facilitate a sale.