Southwest Florida Real Estate Advice
Why You Should Rethink Listing Your Home During The Tourist Season
Down here in Southwest Florida things are a little different than they are up north. The Northern States generally see an influx of business during mid-spring through mid-fall. During that period anyone and everyone who wants to sell or buy a home does so. Here in Southwest Florida it’s a little different. Our busy season starts in October and ends around April. That’s because a large number of people from the North come down here for vacation. We like to call these people “snowbirds”. During this busy season a lot of home owners feel this is the best time to sell their homes. While this may seem like a wonderful idea, I’m here to show why it may not be as good as it sounds.
Constant flow of new people
A major question I get during the summer months is, “Are homes even selling right now?” The answer is always, “Yes!” A lot of home sellers like to wait until October to sell their homes because October is the start of the tourism season. While this may sound like a good idea, it isn’t as good as it sounds. One major fact that is particularly unknown is we have over 1,000 new people move to Florida every day. That’s right, I said one THOUSAND people every DAY! This means there are 1,000 people looking for homes to rent or buy every single day. In other words, if you want to sell, every day is a good day.
Lower home values
It’s thought exercise time! Okay, let’s assume that gold coins are “the thing” right now. Everyone wants to buy a gold coin. However, only you and three other people have a gold coin to sell. How do you think that is going to affect the price that people are going to pay for your gold coin? They are going to pay a lot of money because there are tons of people who want one but only 4 people that are selling them. Now let’s assume you and 10,000 other people have a gold coin to sell. What happens to the price people will pay? It’s going to lower tremendously because there are lots of coins to choose from. The same thing happens with home prices because a lot of people wait to sell their homes during this time. If you want the best value for your home, sell it when you have little competition. When is this? April through October.
When you sell your home, you also need to move into another one. Yes, that means packing and moving! For some, including myself, this does not sound fun at all. Fortunately, there are services that will do it for you. However, because a lot of people wait until the tourism season to sell their homes, these companies raise their prices. Why? Because they know people are going to pay. What a lot of people don’t know is these companies will offer cheaper services during the slower times of the year, and it’s not just them. Restaurants, parking and even tourist activities also lower their prices during this time! So next time you think about selling your home, save a few bucks to a few hundred bucks selling during the slow season.
Longer wait times
When selling your home there are a lot of services necessary and some are legally required for you to sell. Some of the services needed are inspections, loan pre-approvals, permits, title searches and more. Some of these can take anywhere from a few days to a few weeks during the slower season. If this sounds like a long time then you don’t even want to know how long this can take during the busy season. If you are like me and like to get things done quickly and efficiently, sell between April and October.
In order to sell your home you need a buyer. Buyers like to walk through and visit lots of homes before they buy and before a buyer can see a home they need to drive there. The average home buyer sees 10 – 15 homes before choosing and sometimes they like to see each home multiple times. Some of the drives in between showings can take 10 – 20 minutes during the slow season. During the busy season this can increase from 10 – 20 minutes to 30 – 40 minutes for the same distance. This can affect a buyer’s mood tremendously. Ever heard of “happy wife equals happy life”? Well, I like to say “a happy buyer means your home sells higher”.
The moral of the story is there are pros and cons for when you want to sell and the month or season can drastically change the results. If you are thinking about selling know that every day in Southwest Florida is a good time and it’s not always wise to sell from October to April.
Thanks for reading!