What is the best way to sell a vacant home in the fall or winter?
By Emilio DiSpirito, Realtor, Radio Show Host, Blogger & Real Estate Podcast Host
Is the fall or winter a good time to sell a home in Rhode Island?
|Selling a home during a New England winter!|
The winter and fall months have historically seen fewer sales than warmer months. Why? Some homeowners do not want the traffic or "mess" during the busy holiday season while others are misinformed and believe it is a bad time to sell.
- Get this! During the heat of the Rhode Island summer market in July 2017, a combined number of 1439 single family, multi-family homes, and condominiums sold in Rhode Island. October 2017 seen about 9.8% fewer home sales which are less than a measly 140 homes statewide.
- Furthermore, December 2016 seen 1264 homes across the state sold which is only 175 homes fewer statewide than the hot summer month!
What these statistics do not tell you is that in December 2016, when you combine condos, single family and multi-family active listings for sale you had 4,319 total!!! When we combine all 3 categories today, in November 2017, we have only approximately 3900 homes for sale in Rhode Island!
Needless to say... there are just not enough homes on the market for the demand and regardless of what time of year, as long as buyers can afford to buy as well as navigate the roads, homes will sell.
What can I do to sell my vacant home for the highest possible price in fall or winter?
The formula is very simple. I've shown hundreds of homes to buyers all over Rhode Island and Massachusettes and the results are always the same! Warm🔥and inviting spaces sell a home faster and higher at price!! Vacant homes can be shown at all times of the day and night!! This is a huge plus and will command more traffic! Let's leverage this!!
Warm and inviting homes sell faster and higher in price!
- A buyer will rush a cold showing and will appreciate and stay in the warmer home!
- Keep the heat set between 67 and 68 degrees for a comfortable temperature.
- This temperature will also ensure your pipes do not freeze!
- Frozen pipes lead to floods, mold and costly repairs!
- Change all of the light bulbs to energy efficient LED bulbs! Save money and add life to your space!
- With showings happening many times when people get out of work during the weekdays, make sure that the exterior of the home, front and back is very well lit, safe and inviting.
- Interior spaces should be lit accordingly. Pay special attention to lighting in the kitchen, bathrooms and living areas! Place lamps in rooms without overhead lighting.
Make sure the property is maintained!
- Curb appeal is critical! Make sure that the grass is trimmed in the fall and that the walkways are clear of snow and ice in the winter!
- Imagine this! It's highly likely that the buyers coming to see your home have viewed other vacant properties as well. Other properties which did not have a clear, welcoming and safe path to the front door!! Set yours apart by ensuring a smooth transition from driveway to the front door!
- If you are not in a position to do it yourself, ask your Realtor for a referral or offer extra compensation to your agent to handle.
- Offer serious buyers a copy of your Pre-list home inspection report
- Show buyers you care about your home and hire a home inspector to ensure that the home is safe, that it is financeable and turn key with a pre-list home inspection report!
- Click the video below to learn how to prepare your home to meet criteria for all of the mortgage programs like FHA, VA, RI Housing, etc.
Stage the interior
- Staging will allow for buyers to connect the dots and also feel more at home than a blank canvass. Roughly, only 1 out of 10 buyers will be able to image the space without seeing a visual.
- Hire a reputable home stager who has an inventory that will compliment the style of the house.
- Usually, pricing is between $1,000 and $3,000 to stage the main living areas and master on a 2,000 sq ft home.
- Buyers buy on how a home makes them feel! Make them feel at home!!
- Hold an open house and bake some cookies and offer hot chocolate to your guests! The smells, taste, and experience will allow your buyer's brain to connect with the property in more ways than one!
Use data to determine your homes fair market price
- Price your home according to the market and not your emotional ties
- Homes priced properly will outshine homes that are not, may lead to multiple offers and are guaranteed more often than not to actually sell your home at a higher price point than playing the sit and wait for price drop game!
To schedule a 20 minute appointment to get your real estate home value report, visit www.mydreamhomenow.com/sell or call Rhode Island & Massachusetts Realtor Emilio DiSpirito 401-359-2338 to set up a consultation.