Why February just may be the best time for you to list your home in Alberta.
We have all seen the signs of spring in our communities. As Alberta homeowners slowly emerge from their winter cocoons and blink weakly at the tepid sun, a brilliant array of “For Sale” signs decorate the slushy streets, brightening the fields of brown grass and barely-budded branches.
Traditionally, the spring real estate rush began at the end of March, with the market in full swing by April and May. The same lack of snow and the warm weather that creates a “spring cleaning” itch also prompts buyers to see visions of a new home.
But in the last 5-8 years, Realtors have seen that busy spring market begin earlier and earlier. In fact, Claude and I have been advising any of our clients who are waiting for the spring market to list their homes by the first week in February.
There are a number of reasons we suggest an early start.
1) Smaller Inventory of Homes – Fewer homes on the market means there is less competition for your property. Sometimes a home has one or two “unique” features that are too quirky for the average buyer. In a market saturated with many similar homes, yours may have been overlooked. Because of the smaller inventory, buyers will most likely take a closer look at your home. It now has a chance to show its true potential to a buyer.
2) Fewer Showings, Faster Sales – In the winter months, buyers are serious! Our cold winter days keep the looky-loos off the streets and out of your home. The likelihood of a serious, qualified buyer is greater in February.
3) Higher Sale Prices – In recent years, we have seen a bit of a pop in the sale prices of homes in February. This does not mean listing prices increase in February. Because inventory is lower in winter, sellers have found that buyer’s offers are stronger, resulting in an agreed sale price which is closer to the list price of the property.
4) Better Technology – Advancements in technology have changed the way buyers preview homes. With videos tours and high-quality photos, buyers are able to narrow their search to just a few homes from the comfort of their living rooms. Because they no longer have to physically see 20 houses, they don’t need to wait for warm weather to head out the door with their realtor.
5) January is Busy for Re-locations – Re-evaluating positions within a company generally happens in the new year, with placement occurring within the first quarter. We are often contacted by out of town buyers who have one weekend to fly in, see houses and make an offer. If your house is not on the market, you could be missing the perfect buyer for your home.
6) Snow is a Great Cover-up – Many people are not green thumbs by nature, and keeping your yard looking like a garden oasis can be a dauntless task. A blanket of white, fluffy snow can divert attention from a lack-lusted yard, shifting a buyer’s focus back inside your lovely home.
7) Helps With a Questionable Location – Highway noise; the bane of summer showings. The focus of a buyer’s mind in summer is backyard parties and relaxing on the deck. In the summer, a buyer will completely forget how many months of winter we have and overlook a perfect home due to a noisy yard. Now, a winter buyer will still hear background noise, but because they will spend the majority of their time inside your home, their focus will be on the features of your home, not the volume of the traffic outside.
Now that you have decided to list in February, we need to set your home up for success…
1) It Must Show Well – Just because there is less competition doesn’t mean you can relax. If a serious, winter buyer takes the time to view your home, make sure it is clean and well cared for.
2) Set The Atmosphere – Baby, its cold outside, so your home must feel warm and cozy! Check the bulbs you are using. Bright whites may seem like a good idea for darker rooms, but can create a clinical, florescent feeling. By changing your bulbs to soft whites or warm whites, you will create a warm glow. Consider adding an additional lamp or motion light to brighten up dark corners. Adding warm-toned throws and pillows can also create a cozy environment.
3) Clean Your Windows – Although Alberta gets cold, we do have plenty of sunny winter days. With no leaves to obscure your windows, the spotlight will be on any streaks or fingerprints your pets or children lovingly leave. Take a few minutes to clean your windows. This will show maintenance and care, and will make it easy for you to open your drapes and let the light in.
4) Create a Welcoming Entrance – Set potential buyers with bulky coats and wet shoes at ease when entering and leaving your home. Place an oversized, soft mat at the entrance which will easily accommodate several people shucking their shoes and, if there is room, a bench to sit on. If their first impression is a relaxed one, you are on your way to receiving an offer.
5) Keep the Home Fire Burning – We are all looking for ways to reduce our bills, but a chilly house is not the welcome your buyers are looking for. Keeping your thermostat up and the fireplace on will help create that cozy feeling.
6) No Overwhelming Scents – Pet odours and strong candles or air fresheners in a closed house are not conducive to a relaxed showing. You may love a fresh scent, but many people have issues with perfume and other scents; even the “nice” ones. If a buyer has pet allergies, you could be sending them running for the door.
7) Clean Out The Closet – Because buyers already overrun with their own winter coats, hats, scarves, and boots, they will notice if your hall closet is busting at seems. Ruthlessly pare down any extra winter wear, donate what you don’t need and make your storage space look ample.
8) Shovel Your Walk – Keeping your driveway, walk and front entrance clear of snow and ice-free will create a great impression, and show that your home is well taken care of. If you are away in the winter, make sure you have a neighbour or service keep up with the snow. Also, ensure that your door lock opens easily; there is nothing worse than a Realtor and their clients standing in a blizzard with a finicky lock.
9) Never Underestimate Your Garage – If your buyer had to spend 20 minutes in the bitter cold scraping his car windows before setting out to meet his realtor, one of the first things he will notice is your garage. An organized, comfortable garage with a smoothly running garage door opener may just be what sways a buyer’s final decision.
10) Remember the Sun – Potential buyers will be curious about what is under all that snow, so if your yard is beautiful in the summer, or the trees stunning in the fall, dig out those pictures! Displayed on your kitchen table and online, they will add value to your home and could be what makes a buyer choose your home over another.