Spring is one of the busiest seasons in the real estate market, as many buyers and sellers take advantage of the warmer weather to make a move. Here are some tips to help you navigate the spring real estate market.

Start early:  If you're planning to buy or sell in the spring, start preparing early. This includes getting pre-approved for a mortgage if you're a buyer, or preparing your home for sale if you're a seller. It is important to have a team of prompt and competent professionals on your side. 

Work with a professional: Whether you're buying or selling a home, it's important to work with a professional real estate agent who has experience and expertise in the local market. They can help you navigate the buying or selling process and negotiate the best deal possible. Reach out to friends, family, or colleagues who have recently bought or sold a property and ask for their recommendations. You can also check online reviews or social media profiles for feedback on specific agents. 

Stay up-to-date on market trends:  Keep an eye on the local real estate market and be aware of any trends or changes that may impact your buying or selling strategy. Attend open houses and meet with real estate agents to get a sense of their approach and style. This can also help you get a better understanding of what's happening in your local market.

Be prepared for competition: The spring real estate market can be highly competitive, with many buyers vying for the same properties. Be prepared to act quickly and make competitive offers if you're a buyer. Make sure you have a clear idea of what you're willing to pay for a home and be prepared to act quickly if you find a home you love. The same goes for sellers, once your home hits the market, things can move quickly and you have to be prepared for anything. Make sure to have a concrete plan with your real estate agent prior to putting your home on the market. 

Take advantage of the weather:  Spring weather can be ideal for showcasing your home's outdoor spaces. Consider adding some outdoor furniture or staging your backyard to highlight its potential. And curb appeal matters!  As the weather warms up, many buyers will be looking for homes with attractive outdoor spaces. Make sure your home's exterior is in good condition, with a well-maintained lawn, fresh paint, and clean windows.

Be flexible:  The spring real estate market can be unpredictable, with changes in inventory and buyer demand day to day. Be prepared to be flexible and adapt your strategy as needed.  Trusting your realtor can help facilitate efficient decision-making, which is crucial in the fast-paced real estate market. When you trust your realtor's expertise and guidance, you can make decisions quickly and confidently, without second-guessing yourself or needing to do extensive research on your own.

Be patient:  Buying or selling a property can be a lengthy process, so be prepared to exercise patience and stay committed to your goals. Trusting your realtor allows for open communication and honesty, which is crucial for a successful home buying or selling experience. If you trust your realtor, you can feel comfortable discussing your needs, concerns, and preferences, and they can provide you with honest and transparent feedback.

The spring real estate market can be a great time to buy or sell a property. By staying informed, working with a team of professionals, and being prepared and flexible, you can navigate the market with confidence and achieve your real estate goals!

Feel free to reach out any time if you have questions about the local market in Sault Ste. Marie.

The following list showcases what home sellers do wrong. Avoid these deal breakers and get your home sold quicker and for more money.

Dirty and  cluttered homes

Clutter can literally cost you thousands of dollars!

Imagine if a car dealership tried to sell a used car and they didn’t even clean it up. They would get far less money than the same car that had been detailed, right? The same goes for houses.

Home buyers are finicky, to say the least. At a minimum, they want to be able to see the space they are purchasing and not think about how much cleanup work they are going to need to do before moving in.

As a home seller, the goal is to move. So why not start by sorting through belongings and packing? It accomplishes two things. You're prepped to move, and the house will show better.

Unwanted scents

Have you seen those air freshener commercials where people are nose blind? They can’t smell their own house smells because they live in it.

Ask your real estate agent if there are any smells you need to get rid of. Then do the work they suggest.

Even if you don’t have any cat litter, dog, or trash smells, it is worth your while to get a couple of air fresheners for the home.

Dark or bold paint colours

I love unique and personalized homes! However, most home buyers aren’t imaginative and value less work.

If you have dark or bold paint choices, you may want to consider repainting those spaces with a lighter, more neutral palette.

Paint is one of the least expensive, most effective changes a homeowner can make to their home. By neutralizing your home, you’ll appeal to more home buyers which ultimately gets you more offers and more money.

Poor first impression

As a seller, you are paying for a professional to help you sell your home and you should expect professional quality.

There is just no way you can take the same level of quality pictures on a smart phone as you can with real photography equipment.

First impressions are everything!

Almost all home buyers are shopping online and the first thing they see are the pictures. Many homes are marketed with dark or blurry photos that do not do the home justice. This results in less interest from buyers to go view the home, which may result in less offers and ultimately less money in your pocket.

Short or vague description

The description is an opportunity to evoke feelings in a home buyer. Feelings that make them not only want to view the home but own the home.

It’s a chance to describe things about the home and neighborhood that they might not know just by looking at the pictures. Maybe there is a great spot for a home office. Or there is the best restaurant in town within a 5 minute walk. Perhaps the backyard deck offers fantastic sunsets every night. These are the types of things that home buyers want to know.

Need more help?

Knowing what not to do is just the beginning. If you are considering selling your property, please consider giving me a call. We can discuss your plans, your particular scenario, address your concerns, and what the best options are for you and your family.

The cons: why you might not want an open houses

There are a few reasons both home sellers and real estate agents don’t like open houses. Open houses do involve preparation and sometimes do not yield any result..

The seller needs to get the house cleaned up and show ready, then vacate for 2-3 hours. It can be a bit of a hassle for some depending on their schedules.

Home owners also don’t love the fact that looky-loos and neighbors will be attending the open house. I can understand being uncomfortable knowing that some of the attendees aren’t 100% serious about buying a home, and it can be awkward knowing that a neighbour toured your home, but word of mouth can be a powerful tool.

The last complaint I hear frequently is that open houses are more about the realtor finding new clients to work with than selling the house they are standing in. I think it’s actually a mix of both. Over the years I’ve come to learn you can’t make someone want to buy a specific home, so if the home doesn’t fit them, then what’s the harm in the real estate agent developing a relationship with the prospective home buyer? It is a sweet bonus if someone does walk into the open house and wants to purchase that home.

I do think the agent who is most likely to want the home to sell is the listing agent, and coincidentally they also have the most knowledge on the home and can probably share the details with visitors the best. But even they can’t force a sale. So it isn’t so much that the agent hosting the open house doesn’t want to sell that house, it’s more that if the opportunity arises to develop a relationship with someone they can work with, they will.

The pros: reasons to have an Open House

It’s your call whether the pros outweigh the cons, but there are several great reasons to have an open house when your home is for sale.

My favourite reason is it gives your listing agent an excellent opportunity to do lots of extra marketing for the property. The home shows up with an extra “Open House” tag on realtor.ca and other websites. The social media posting opportunities are endless. Whether or not the people actually show up to the open house doesn’t really matter, because the home has now been put in front of hundreds of extra home buyers that it otherwise wouldn’t have been.

Another great reason to have an open house, especially on the first weekend you are listed, is to consolidate the showings. It’s inconvenient to leave the house every time someone calls to view the property. So if you plan one on opening weekend, most of those showings can be consolidated to the hours of the open house for those who can’t arrange a private viewing.

A third reason in favour of open houses is the opportunity for in-depth feedback. Unlike a traditional showing where your listing agent has to reach out after the fact to obtain feedback from the buyer’s agent, at an open house your agent gets the opportunity to ask visitors their feedback right on the spot. This gives you an opportunity (if no offers are received) to fix anything that can be fixed. Or if needed change the price to reflect the feedback.

Saving the best reason for last....you never know when someone is going to walk in and want to buy the home! Remember the looky-loos and neighbors you were so concerned with? Sometimes a looky-loo turns into a buyer. And sometimes a neighbour has a friend or family member who is looking to live in the same neighbourhood. There are no guarantees this will happen, but there is a guarantee that if you don’t have an open house it will never happen.

So what do I choose?

There’s plenty of great reasons to have an open house and there are a couple of cons. If those downsides outweigh the positives it probably isn’t detrimental to your home sale to not have an open house. Plenty of homes sell without ever having an open house.

If you are still up in the air on what’s best for you, consult your real estate agent. They will be able to clue you in as to what’s best for your location and price point. Don’t have a real estate agent? I might know a great one ;)

Give me a call and we can discuss open houses and any other questions regarding selling your home and meeting your real estate goals.

Timing is everything! Well, maybe not everything. But when you are selling a home it does matter when you put your home on the market.

The tale that’s always told is sell in Spring. I’m here to tell you that blooming flowers and green grass aside, there are other great times of the year to put your house up for sale.

Winter is one of those times. So whether you want to move or need to move let’s take a look at the surprising reasons behind selling in Winter.

And don’t miss the last reason...it’s my favourite!

1. Low inventory = less competition

I’m about to debunk the myth that “Winter is not a great time to list your home for sale”, but the truth is so many people believe that it’s a bad time to sell that they choose not to put their property on the market. If they aren’t on the market and you are, that means you have less competition. Less competition is a GREAT thing!

Wouldn’t you rather be one of 5 choices instead of 25 choices? When there are fewer choices homes sell faster and get more money.

People often like to point out the fact that fewer homes sell in winter. They aren’t wrong. But when you look at graphs showing how many homes are listed compared to how many sell, most of the time a much higher percentage of the homes listed sell in winter vs spring. As in, if 50 homes are listed in winter, 45 of them will sell. But if 100 homes are listed in Spring only 75 of them will sell.

So be one of the few instead of one of the many!

2. Sell faster and usually for more

This is really a continuation of low inventory does a seller good! When there are fewer homes on the market and roughly the same amount of home buyers year round, it means your home is more visible and has more exposure just by the nature of market conditions.

When that’s the case, it often means a home will sell faster. Home buyers are eager to see the newest house on the market if only a couple are being listed each week. If the product (your house) is good, the price is good, and the marketing shows it off, buyers will be at the house ASAP and ready to write an offer.

When there is urgency in the market and buzz about a particular home, not only does it sell quickly it will also receive an offer with a great price and terms. That’s your ideal situation!

3. Serious buyers in the winter

Yup, that’s right. Harsh weather gets rid of the Looky-Loos! Open houses are a fair weather sport, and those that aren’t truly motivated stay home.

Serious home buyers don’t care if it’s raining or snowing - they are bound and determined to find a new place to live.

This does mean you may get fewer showings. But what does that matter if each showing means more? Also, it takes some of the hassle of always having to shuttle the kids and dogs out of the house for each showing.

4. Quicker communication with the lender

Winter time is a slower time for both new mortgages and refinances. By slower, I mean fewer are being processed.

This is good news when you are buying or selling a home. It means that the process will be smoother. Fewer glitches or hold ups. The mortgage lender will be less distracted and able to concentrate on each file instead of being overwhelmed.

Anything to make the sale of your home more relaxing is a win in my book!

5. Homes still show well in winter

Marketing a home for sale is all about getting the home buyers to imagine the house as their home. Nothing does this better than cozy decorations!

You don’t necessarily want to go over the top but wreaths, lights, candles, pine cones, a fire going in the fireplace, and themed welcome mats all make a house feel homier. When you have a few of these simple decor items in place it’s hard for potential home buyers to NOT imagine themselves living in the home.

Some agents may recommend going with a stark look and not decorating. Not me! I believe it amps up the good cheer AND the offers.

6. Homes that close in the spring are listed in the winter!

This is my favorite reason to sell in Winter. It’s all about the statistics! You can’t beat numbers to tell you the truth.

If you look at a graph of “Closed Transactions” for each month over the years, you’ll notice that typically the most homes sold and the highest average dollars per square foot usually land in the months of April and May.

This has translated to mean that April and May are the best times to list your home for sale. In fact, it really means that January through March are the best times to list.

Why? Because the stats are for when they closed, not when they listed. Homes usually close 5-10 weeks after they are listed for sale. So if you listed your home for sale on February 15th, you would close right around April 1st.

What does this mean for you? Beat the rush and list somewhere between January and March to get the peak price!

Let’s Get Real

I always aim for truth and honesty so my clients can have realistic expectations when they are buying and selling homes.

Here’s the truth on whether or not to list during winter: If you need to sell your home and make a move (or you highly desire it) then timing isn’t an issue. There will always be someone interested in purchasing a home.

What matters is being strategic about working with a great real estate agent who can guide you toward an appropriate pricing strategy, create excellent marketing, and make the home sales process easy on you.

If you are considering selling your home this Winter, give me a call and we can have a conversation about your goals and timing.