The Winter Market
We hope you are enjoying this first bit of snow that is sticking around already. There's certainly no denying that that the winter weather is here, and with it brings lots of seasonal changes.
If you are looking to by or sell a home, we are sure that you have some questions about the winter market. We find that many people in Minnesota tend to slow down in their home search or selling pricing during the colder months, as people seem to want to hunker down a bit more. However, we have a few reasons why that might not actually be the best option for you.
If you're thinking about Selling....
The winter is still always a great option for selling your home! The buyers that have been looking for awhile are still looking for their new home, especially if they didn't find the right home earlier in the year. You will likely also run into the buyers that want to beat the craziness of the Spring market.
If you do decide you want to sell this winter, here are a few tips to make it stand out to buyers.
Lighting - Lighting is always an important part of selling a home. Most buyers love to see how bright and cheery their future home could be. This can be challenging to maintain in the winter with the early sunsets. Try to plan on having outdoor lights on a timer or if you can, turn on all the lights in your home before an evening showing so it appears more welcoming.
Keep it cozy - Who doesn't want to just curl up with a blanket or near a fire on a cozy evening? Set the stage for a buyer! Try to keep the temperature a little warmer before and during showings, and utilize a fireplace if you have one. Don't have a fire going for a showing, but just set logs up in a wood burning fireplace to create the scene or arrange furniture to be focused around it. It'll portray the image of a cozy evening.
Keep your driveways and sidewalks clear - This is a curb appeal factor and safety factor. This very simple step will instantly make your home look maintained. Additionally, you certainly do not want anyone to slip or fall because you did not shovel or ice a walkway. Try to keep these as clear as possible for everyones safety, including your own.
Do keep in mind that right now the average days on the market according to the NorthstarMLS is at 49 days on the market. While you may not necessarily be on the market that long, every neighborhood is different. Remember to stay patient and know your buyer is out there, you may just need to wait a tad longer. We can help make sure that we're taking the right steps to keep your home out there for agents and potential buyers to see as well.
If you are thinking about selling this winter, you will also want to set up a time to meet to discuss your timeline and your plans! You can visit our website for more information about selling your home.
If you're thinking about Buying....
As a buyer, we love the winter market! The Spring market can tend to be a little crazy and if you can get in something sooner, why wouldn't you? As a buyer, here are a few things to watch for to keep you in the game to find your new home.
Make sure you are pre-approved - This is ALWAYS our number 1 recommendation. to make sure that you are ready to buy a home. Having a sit down meeting, or in depth conversation about the lending process is important to make sure that you are prepared. If you need a lender, we would be happy to refer you to a few that clients of ours have worked with in the past and had a great experience!
Know when you can close - Are you in a current lease or in a current home? If you are looking to buy a home, make sure you know what timeframe you have to close on the move in and move in. This is always a great thing to discuss with your Realtor as well to make sure that you are on track with your timeline.
Ask the right questions - One of the joys of living in MN is that we have seasons. This is a GREAT thing! However, that means that pretty much anytime you buy a home in our state you will only get to check out certain things that you need for each season, i.e. an A/C or furnace. When you are looking at homes, see if you can get the age of an A/C to help determine the potential lifetime so you don't start it in the summer and it doesn't work. It's never a bad idea to ask about any lawn care, standing water in the yard, etc. that may happen in between seasons. Still make sure you get as good of a look as you can outside, and remember, a home inspection will often answer a lot of your questions!
Still be Decisive - Even if the market feels a little slower and you think you have plenty of time to make a decision on a home, try not to wait too long. There's never a guarantee that a home will stay on the market for another week for you to make a decision, so if you love it, make the offer. You'll be glad you did and the seller will too!
If you decide you are ready to buy your home this winter, we are here to help! You can see more about the home buying process on our website as well.
Overall, whether you are looking to buy or sell, we ALWAYS think it's a good time if it's the time that's right for you. So don't let the colder weather deter you and get out there. You might just find your perfect opportunity.