Another summer has come and gone. So has the busiest time of year for real estate sales. That doesn’t mean it’s time to throw in the towel and put your dreams of selling your home on hold until the weather warms up. Here are 7 reasons to sell before 2020.
1. More Motivation
As the leaves turn gold in September, the days are shorter and the air is crisp. It is a good reminder to buyers that they are running out of time to have a place for ski season. The lax time frame they had during the summer is replaced with one with more urgency.
2. Short Term Rental Income
Most of the properties in Summit County are second homes. By this time of year, properties on a rental program will have some short term rentals booked for the upcoming winter. That’s an added bonus for buyers looking to rent their new property. With rentals already booked they can be generating income immediately.
3. Lower Inventory
In the winter, sellers often take their property off the market to concentrate on rentals or to use it themselves. That means inventory levels generally drop in the winter. That means less competition for the buyers that are still out there.
4. Fewer Looky-Loos
Days are shorter in the winter. Visitors to the county are busy having fun. There are so many better things to do than look at property if someone isn’t really interested in buying. The showings may be fewer but the buyers are stronger.
5. People In Town
Big holidays fall at the end of the year; Thanksgiving, Christmas, New Years. People flock to the area during these holidays. It’s an excellent opportunity to get your property more exposure and put it in front of a lot of people
6. Shifting Market
It’s impossible to know what is coming for the real estate market. We are definitely seeing a shift. Properties are on the market longer and prices aren’t appreciating as quickly as they have been. You can take a wait and see approach but how long will you continue to wait? The future will always be an unknown.
7. Profit
Appreciation of Summit County real estate has been spectacular. It may be a great time to sell and take the profit on this year’s taxes. Perhaps downsizing or a 1031 Exchange would be a good option to realize the gain but avoid some or all of the taxes. We can give you a quick valuation of your home with just a few details.
From a longtime Looky-Loo who would like to be a Buyer-Buy, I still monitor the Summit County market regularly. Over the last 8 years, Jason and Meredith have been very patient and generous with their time for me and my wife. We’re focusing more now on Silverthorne and would be quite interested if another 2 or 3 bedroom unit becomes available in the West of the Blue townhouses or the Riverbend Condominiums. I’ll be in Frisco for an early season ski weekend in 2 weeks. Thanks again.