4 Reasons Winter Home Sales Are Wise
Many people believe that the Lake area shuts down in the winter (which is not true!) so they also think that real estate at the Lake of the Ozarks shuts down too. This is also not true. A very large portion of buying and selling goes on during the months of December, January, and February. Winter is an excellent time to get your house on the market.
Studies show that selling a home at the Lake of the Ozarks in the winter is more likely to get your asking price than in the summer months. The following points are most likely a big part of the reason for this.
Fewer houses on the market.
Since most people believe that best time to put their house on the market is in the spring, there is less competition for sellers in the winter. With fewer houses for buyers to look at, the more attention that your house will get.
Demand is strong.
In the past eight months, between March 1, 2014 and October 31, 2015, only about 1/3 of the total Lake of the Ozarks real estate transactions have happened that are expected in a year. That shows how much activity we expect every winter. 2/3 of the homes that people will be purchasing should take place in the next four months.
Buyers are focused.
Nice spring weather brings out a lot of "window shoppers" to open houses. It's a lovely time to think about what you might want in a home "someday." Winter buyers are much more focused and serious about buying a home now. A lot of people looking to buy a home at the Lake of the Ozarks are shopping with a purpose, like needing a larger home for a growing family. Many businesses transfer employees early in the year, so these people are very motivated to find a house immediately.
Changes are coming.
Interest rates on home loans are near 4% currently, but expected to increase over the next twelve months. Many buyers will want to get homes bought before this increase. Also, the confidence that builders have in the market will mean more single-family homes for sale over the next two years, meaning more competition.
If you were planning to put up your house for sale at the Lake of the Ozarks in the near future, don't wait! I can help you take care of the details for getting your home in front of buyers right away. Winter is a perfect time to show your home to serious buyers and get it sold. Give me a call with any questions or concerns that you may have. This Lake of the Ozarks real estate agent is here to make the entire process as simple and quick for you as possible.
Here for all of your real estate needs at Lake of the Ozarks!
573-365-1555
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