Don’t stop selling now
With the long summer holidays on the near horizon, many homeowners are thinking about putting their plans to sell on hold until next year – but this would be a mistake.
That’s the word from Richard Gray, CEO of the Harcourts real estate group, who says that for serious sellers, the festive season is actually one of the best times of the year to market a home, for several reasons.
The first of these, he says, is the fact that this is the preferred time of year for relocations. “There is usually a rush of buyers in the market just before the end of the year. People who have to relocate for work reasons, for example, usually try to time their move for the beginning of the academic year to minimise disruption of their children’s schooling.
“And sellers should ideally have their houses on the market at this time to capture that audience of potential buyers - especially since they are more likely to be serious about finalising a deal within a relatively short time and may well have fewer homes to choose from.”
Secondly, Gray says, summer is a prime selling season in many areas just because the weather is better and properties tend to look more attractive, especially if set in a green and blooming garden.
“Thirdly, most of the potential buyers you want to attract will have more free time during the holiday season to go to show houses, and making it possible for them to do so right away will cut the time your property is on the market and quite possibly enable you to realise a better price.”
And finally, he says, real estate industry analysts do not foresee a return to the pre-2007 boom market anytime soon, so delaying your home sale now in the hope that prices generally will start to rise does not make sense, especially if you are planning to upgrade.
“You need to consider your own personal and financial circumstances and needs, and make a decision based on these, rather than on prevailing market conditions. Then if you do decide to sell, don’t hold back. Hire an experienced, knowledgeable estate agent to market your home and get it sold as soon as possible.”
ISSUED BY HARCOURTS AFRICA